WTO recognizes the free trade agreement

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WTO recognizes the free trade agreement

Post  Admin on Sun Dec 08, 2013 7:42 am

Ali Salman - 08.12.2013 AD - 10:14

Approved the World Trade Organization at its meeting at the level of economic ministers of its member countries, which was held in the Indonesian island of Bali on December 7 / December approved an agreement for free trade is the first in its history.

Participate in the meeting and 159 state delegations.

The Director-General of the Organization of Brazilian Roberto Azevedo said agreement Bali, the first since the creation of the World Trade Organization in 1995, is "an important step" toward achieving broad program of liberalization of trade, which was launched in 2001 in Doha, but he remained without implementation.

Indonesian minister added that "the agreement Bali is a new dawn for the World Trade Organization."

According to the conclusion of the meeting to announce an agreement on trade and measures 5 documents related to agriculture (including agreement on food security and the Declaration on the competition in the field of export) and 4 supporting documents on the least developed countries.

The issue of food security is a fundamental problem on the way to the signing of the agreement.

It has made ​​India, which seeks to support and store grain for millions of poor population, the claim is that the exemption of such final actions of any restrictions imposed by the organization.

India said that it speaks on behalf of 46 developing countries want to provide basic food items for about 800 million poor at discounted prices.

As indicated the United States and other countries to India's policy concerning grain violate WTO rules, the special financial subsidies, and expressed fears of grain to enter this market, which would affect the global prices.



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