This is the first time since its inception that the WTO reached an understanding with all of its 159 Member States. The trade ministers of the various nations were in Bali ( Indonesia). Until the end, the vote of India and Cuba uncertain

Bali ( AsiaNews / Agencies) - For the first time in its history , the World Trade Organization (WTO) has reached an agreement to liberalize global economic trade and improve the food security programs in countries in the developing world. All of the 159 nations of the WTO signed the Treaty of Understanding today in Bali (Indonesia), after more than a week of talks.

"For the first time - said Roberto Azevedo , Director General of the WTO - the World Trade Organization has really lived up to his promises ." The agreement reached is in fact the first to involve all Member States, since the creation of the WTO in 1995. According to analysts , the agreement could lead to trillions of dollars for the global economy.

Specifically, the agreement will facilitate trade and make it easier for poorer countries to sell their products.

The trade ministers of 159 countries discussed until the agreement until the early hours of the morning. At first, it seemed that the agreement would be once again postponed. India was among the most "critical" countries, refusing to compromise in the agreement to abolish the ceiling on agricultural subsidies imposed by the WTO, claiming these serve to implement food programs . Even Cuba threatened a last minute veto, if the U.S. had not agreed to an easing of sanctions.

 

• indonesia
• wto
• agreement
• developing
• countries
• trade