Jakarta Globe – AFP, Francezka Nangoy & Tito Summa Siahaan, December 7, 2013
Nusa Dua,
Bali. World Trade Organization members on Saturday approved a last-minute plan
for a trade deal that could boost the global economy by $1 trillion, securing a
new lease on life or the organization.
“It is so
agreed,” Indonesian Trade Minister Gita Wirjawan told delegates, following
tough negotiations that stretched into the early hours of the morning.
After a
cliff-hanger end to the midnight-to-dawn meeting, following protracted
negations with India and eleventh-hour objections from Cuba, Venezuela,
Nicaragua and Bolivia, the conference accepted the Bali Package — a set of
trade liberalizations contained in ten documents.
The accord
included commitments to facilitate trade by simplifying customs procedures.
The United
States and India “embraced” the deal after a longstanding disagreement on
agricultural subsides.
“For the
first time in our history the WTO has truly delivered,” exhausted-looking WTO
director-general Roberto Azevedo said at the closing ceremony. “We will now be
able to move forward… This is an important stepping stone to the completion of
Doha Development Agenda.”
The Doha
Development Agenda, a broad-based agreement to lower trade barriers, has been
stalled since 2008.
Today’s
Bali agreement falls far short of the WTO’s lofty but elusive vision of tearing
down all trade barriers around the world. But Azevedo said it would have
important symbolic value for the trade body’s hopes of reviving Doha.
Critics of
the WTO argue that the organization upholds double standards for its developed
and developing members and may hurt food security and job creation in some
countries.
Additional reporting from AFP
An
emotional Roberto Azevedo is comforted during the
closing ceremony of the WTO
talks. Photograph: Edgar
Su/Reuters
|
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