Representatives from the WTO’s 159 member countries recently agreed on the first multilateral trade deal in nearly two decades. While the Trade Facilitation Agreement did not address the most pressing issues, it remains an important milestone, as it reflects a broader trend toward global trade liberalization.
NEWTON, MASSACHUSETTS – On December 7, representatives from the World Trade Organization’s 159 member countries reached agreement on the first multilateral trade deal in the WTO’s 19-year history. Although the Trade Facilitation Agreement – dubbed the “Bali package,” after the Indonesian island where the meeting took place – did not address the most pressing North-South trade issues, it remains an important economic and political milestone.
NEWTON, MASSACHUSETTS – On December 7, representatives from the World Trade Organization’s 159 member countries reached agreement on the first multilateral trade deal in the WTO’s 19-year history. Although the Trade Facilitation Agreement – dubbed the “Bali package,” after the Indonesian island where the meeting took place – did not address the most pressing North-South trade issues, it remains an important economic and political milestone.