World trade deal expected to boost EU nations

World trade deal expected to boost EU nations
Hailed as “historic” by British Prime Minister David Cameron, the surprise world trade deal agreed over the weekend in Bali aims to lower the cost of exports by simplifying customs procedures and reducing import duties. It also seeks to give developing countries greater market access to western economies and allows them some breathing space on food subsidies.

WTO agrees global trade deal worth $1tn
Ministers from 159 countries have reached a deal intended to boost global trade at a meeting in Bali, Indonesia. The World Trade Organization’s first comprehensive agreement involves an effort to simplify the procedures for doing business across borders. There will also be improved duty-free access for goods sold by the world’s poorest countries.

WTO Celebrates First Global Agreement in 12 Years
Roberto Azevêdo announced on Saturday the successful culmination of days of difficult negotiations to arrive at the first unanimous agreement in the history of the WTO.