| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Memo |
| Series Details | MEMO/13/1076 (29.11.13) |
| Publication Date | 29/11/2013 |
| Content Type | News |
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The Ninth World Trade Organisation (WTO) Ministerial Conference (MC9) was held in Bali, Indonesia, from 3 to 6 December 2013. The three main pillars of work were: - Trade Facilitation: this would be a new WTO Agreement that would improve customs procedures and transparency with a view to accelerating the cross-border movement of goods. - Agriculture, including food security, export competition, and other tariff-related issues ('Tariff Rate Quota' (TRQ) administration); - Development, including several provisions beneficial, in particular, for Least Developed Countries (LDCs) in areas such as rules of origin, services etc. The Ministerial Conference concluded a day later than scheduled on 7 December 2013 with agreement on a package of issues designed to streamline trade, allow developing countries more options for providing food security, boost least developed countries’ trade and help development more generally. Experts saw this as a chance to boost growth but cautioned that further steps were needed in the future. The Bali Package was a selection of issues from the broader Doha Round negotiations. The Bali Package was described as the first major agreement among WTO members since it was formed in 1995 under agreements from the 1986-94 Uruguay Round negotiations. The package also included a political commitment to reduce export subsidies in agriculture and keep them at low levels, and to reduce obstacles to trade when agricultural products are imported through quotas. A number of NGOs criticised the trade deal. |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_MEMO-13-1076_en.htm |
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| Subject Categories | Trade |
| Countries / Regions | Europe |
