WTO: historic agreement on world trade

Published on Dec 07, 2013

The Wto, the World Trade Organization, is unable to unlock the negotiations of Doha, at a standstill since 2008. The agreement was signed between the ministers of Trade of the 160 member Countries of the organization on the indonesian island of Bali, and allows for the liberalisation of international trade. “This time we have the unity among all the members”, announced the director general of the Wto, the brazilian Roberto Azevedo. The agreement, reached on the strand of wool after Cuba had threatened to veto the package, could ensure an increase of a billion dollars in the world economy, but is criticized by the organization-global, according to which facilitates especially the large groups. The agreement came in the night after 12 years of negotiations had not produced any fruit. The agreement must now be approved by the individual governments of the member States. According to a study commissioned by Washington, the agreement could inject 960 billion into the global economy and create 21 million jobs, 18 of which are in developing countries. The chapter singificativo package of Bali regards trade facilitation: it is a multilateral deal to simplify customs procedures by reducing costs and improving speed and efficiency. The benefits in economic terms are estimated at between 400 billion and 1,000 billion dollars. Then there are the themes of agricultural and namely: general services, storage public of raw materials for the purposes of food security, Tariff Quota Rates and increased competition in exports. Furthermore there is the chapter on the cotton market, and, with respect to the requests of the least developed Countries in the rivnio of the implementation of the liberalization of services. PUT, the historical opportunity for Italian SMES. “The Wto agreement reached in Bali is an historic result. After 20 years, 160 Countries concluded a multilateral agreement on trade”. So the deputy minister for Economic Development, Carlo Calenda, said the conclusion of the NINTH Ministerial Conference of the World Trade Organization (Wto). “All the members of the Wto, the least developed Countries to major world economies – continues the vice minister – have adopted a text which provides: a wide range of measures to facilitate trade; the possibility for developing Countries and least-developed countries to accumulate food to distribute to the poorest citizens; a series of measures to help the less advanced Countries to insert themselves in the flow of world trade”. For small and medium-sized Italian exporting firms, “the measures of trade facilitation – still observes Calenda – represent an extraordinary opportunity to grow. Estimates commissioned by the Wto on the growth potential of the world's Gdp arising from the negotiating chapters actually closed in Bali, in fact, speak of an increase of more than 1,000 billion dollars”. “The Eu and Italy – concludes Calenda – they have held a position of strong support for the package presented, contributing to the successful conclusion of the negotiations. And much of the credit for the success goes to the new DG of WTO-Roberto Azevedo, who has done an amazing job”. Will reached these goals? And how did the organisations in the no-global do not trust this agreement? Perhaps because of the side effects of this greedy globalization?

The post WTO: historic global agreement on trade appeared first on The Boot Thinking.

image

Hey friend

Your blog talks about Wto: Historic Agreement On World Trade? Contact Us to be indexed in the BitFeed Network