Supply Chain News / Risk & Compliance / Economic Development / Finance & Credit

A Quick Look at the WTO/Bali Deal

December 10, 2013

The WTO’s Bali Ministerial Conference has brought forth an agreement on a package of issues designed to streamline trade, allowing developing countries more options for providing food security, boost least developed countries’ trade and help development more generally.

The World Trade Organization, or WTO, announced its first ever global trade deal, overcoming disagreements that troubled negotiations among ministers from 159 member nations who had gathered on the Indonesian island of Bali.

The historic agreement, which could contribute nearly $1 trillion to the world economy, cuts through red tape and streamlines customs and port procedures, and also makes it easier for the world’s poorest nations to export to richer markets.

The breakthrough was achieved after Cuba withdrew a threat to veto the deal, as it does not help end a U.S. embargo on the Caribbean island nation, but later agreed on a compromise with the U.S.

“For the first time in our history: the WTO has truly delivered,” said WTO Director-General Roberto Azevêdo. “I challenged you all, here in Bali, to show the political will we needed to take us across the finish line. You did that. And I thank you for it.”

The Bali Package is a selection of issues from the broader Doha Round negotiations. Echoing calls from many delegations, Mr Azevêdo, said members’ attention should now turn the rest of the round, known semi-officially as the Doha Development Agenda.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

KC SmartPort Momentum

Kansas City SmartPort Momentum 2013 focused on 3PLs, the issues facing the industry, and the role or logistics in economic development

Podcasts

 

Calculating a true landed cost for global sourcing directly correlates with the profitability of purchased goods. However, few companies can command real-time visibility in to all the costs involved for cross border movements. In this podcast, World Trade 100 and Amber Road highlight how a comprehensive global trade platform that converges both logistics and compliance costs can deliver true landed cost visibility.

 

Speaker: Hung Lee, Senior Product Manager, Amber Road

More Podcasts

THE MAGAZINE

World Trade 100 Magazine

april cover wt100 2014

2014 April

Check out the April 2014 edition of World Trade WT100, featuring articles on fueling changes for trucking plus much more!

Table Of Contents Subscribe

Supply Chain Disruptions

Which are the most common causes of disruptions in your supply chain?
View Results Poll Archive

WT100 STORE

world-class-warehousing.gif
World-Class Warehousing and Material Handling, 1st Edition

Filled with proven operational solutions, it will guide managers as they develop a warehouse master plan, one designed to minimize the effects of supply chain inefficiencies as it improves logistics accuracy and inventory management - and reduces overall warehousing expense.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Use our interactive maps to locate service providers across North America.Interactive Map

Logistics Development Partners 

IWLA Members

STAY CONNECTED