"Historical" agreement in the WTO

"What we did here in Bali is truly extraordinary," said the Indonesian Minister who presided over the negotiations of the last four days. "We have negotiated a package that will bring food security to millions of the poorest in the world. We have reached an agreement to facilitate trade that will inject up to 1 billion dollars into the economy and we have agreed to a series of innovative initiatives to help the least developed countries to benefit from further multilateral trade system, "explained Gita Wirjawan.

Overcome the deadlock with India and with Cuba, the WTO has managed to reach an agreement to reduce trade barriers and improve the terms of trade for developing countries that will also be able to circumvent the rules for purchase of food subsidies if it is to feed the poor.

It is estimated that the deal, much less ambitious than was released on "Doha round", for 12 years, will create more than 20 million jobs, mostly in the poorest countries.

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