The deal could boost world trade in (right) trillion dollars over time. It also keeps alive the tra

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Bali -. The World Trade Organization, of 159 members, approved an agreement to boost world trade for the first time in almost two decades, keeping the possibility that in the future may be agreed a broader agreement to narrow the gap between countries live rich and poor.
The director duty free prices general of the WTO, Roberto Azevedo, could not contain her excitement during the closing ceremony on Saturday when thanked Indonesia, member countries of the WTO and his own wife. "For the first time in our history, the WTO has truly fulfilled," duty free prices he said.
Trade ministers came to the four-day meeting of the WTO in Bali island with little hope of a deal after years of unfinished business negotiations could be achieved.
India was also an obstacle because of its strong arrangements could jeopardize grain subsidies intended to feed their poor objection. The WTO members gave developing nations a temporary duty free prices limits subsidies filing duty free prices the waiver issue to further negotiations.
"This week has been spent in the midst of a high-level diplomacy, long nights and substantial drama," said Gita Wirjawan, Indonesian trade minister, who chaired the meeting. "But it has also sought to ensure that the gains from multilateral trade system reach our small businesses and our most vulnerable economies."
The deal could boost world trade in (right) trillion dollars over time. It also keeps alive the trade negotiations of the Doha Round called, sometimes known as the wheel of development due to the extensive changes in regulations, taxes and subsidies that benefit low-income nations.
"The WTO has restored its credibility as an essential forum for trade negotiations and this is not only a victory on paper. Simplify the transboundary movement of goods by reducing bureaucracy could boost the global economy," he said in a statement the Chamber of Commerce USA.
But some critics say that the WTO rules could hamper the nations set their own priorities for environmental protection, workers' rights, food security and other areas. And they say the sudden restrictions on import charges could eliminate industries, causing job losses in rich and poor countries.
The WTO was formed in January 1995 after negotiations Wheel of Uruguay duty free prices from 1986 to 1994 were completed. Besides being a forum for global trade negotiations, the organization arbitrates trade disputes between member countries.

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