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WTO Approves Historic Bali Package

PUBLISHED BY: SURENDER KUMAR
DECEMBER 12, 2013

   
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World Trade Organisation (WTO) ministers at Bali have finally adopted the historic declaration and the 10-document full Bali package which addresses the Doha Development Agenda. There were fears that if Bali package did not come through, the Doha Round and the WTO will become lifeless.


 

 

 

The negotiators in Geneva will now focus on the long-pending issues of the Doha Development Round in a programme to be completed within 12 months.The declaration is in line with India's desires and takes care of its concerns on both Food Security and Trade Facilitation.



 

 

 

The Bali Declaration upholds the developing countries' right to provide food security to billions of the world’s poorest and, through trade facilitation, opens up the potential of injecting up $1 trillion into the global economy.

 

 

 

 

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