Arab Today, arab today bali global trade pact to be implement
Last Updated : GMT 14:12:17
Arab Today, arab today
Arab Today, arab today

Bali global trade pact to be implement

Arab Today, arab today

Arab Today, arab today Bali global trade pact to be implement

World Trade Organisation
Geneva - AFP

The 160 members of the World Trade Organization agreed Thursday in Geneva to implement a landmark global trade agreement reached in Bali last December, a spokesman said.
The deal to implement the first global trade reform pact in the WTO's 19-year history was finally reached Thursday after negotiations were delayed for 24 hours.
"We've made it!" WTO Director-General Roberto Azevedo had said in a speech to member states, according to a trade diplomat in the room.
"We have put ourselves back in the game," he was quoted as saying, adding "We've seen a renewed commitment to the multilateral system."
The member states had adopted two texts presented Monday: the Trade Facilitation Agreement (TFA), aimed at streamlining global customs procedures, and one on the management of food stockpiles.
These two texts were agreed upon late last year in Bali, but had been stalled since July, when India refused to endorse the pact unless its food stockpiles were exempted from possible punitive measures.
India and its supporters in the developing world have argued that food stockpiling is essential to ensure poor farmers and consumers survive in the cutthroat world of business.
But stockpiling and subsidies for the poor are considered trade-distorting under existing WTO rules.
India and the United States finally said earlier this month that they had resolved the row, and the WTO member states had been expected to seal the deal.
The final agreement to put the Trade Facilitation Agreement into action was met with applause.
"Once in force, it will help developing countries better integrate into the global economy, intensify regional integration and lift millions out of poverty," EU Trade Commissioner Cecilia Malmstroem enthused in a statement.
US trade representative Michael Froman also hailed the deal, which he described as "a critical step forward by breaking the impasse that has prevailed since July."
"The Trade Facilitation Agreement has the potential to fundamentally reform global customs practices and substantially reduce the costs and time associated with goods crossing borders," he pointed out in a statement, calling it the "perfect example of how breaking down barriers to trade can unlock new opportunities for developed and developing countries alike, and it's a particularly important win for small and businesses in all countries."
"With this win under the WTO’s belt, we can once again focus our efforts on revitalising the organisation’s core negotiating functions," Froman said.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bali global trade pact to be implement Arab Today, arab today bali global trade pact to be implement

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott

GMT 15:54 2017 Wednesday ,22 March

Amazon deal for Souq.com is back on

GMT 13:03 2017 Wednesday ,22 March

Germany should ditch austerity, embrace EU investment

GMT 10:43 2017 Wednesday ,22 March

Bags carry Hermes to record profit

GMT 09:49 2017 Wednesday ,22 March

Khamenei fleshes out 'Made in Iran' vision

GMT 08:46 2017 Wednesday ,22 March

Cooperation with specialised British companies hailed
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday