A ‘small harvest’ in Bali offers big horizons for WTO’s future
16 December 2013
Trade ministers from 159 countries adopted a historic decision at the WTO’s (World Trade Organization) ninth Ministerial Conference held on the island of Bali in Indonesia. It is the first in time its history that the two-decade-old World Trade Organization has been able to deliver a set of rules that will be part of multilateral trade agreements. Shortly before the start of the Ministerial, Mr. Azavedo, the Director-General of the WTO himself declared cautiously that the risk of failure was still present. Dec. 7 saw a breakthrough in trade negotiations by way of a minor amelioration that discussions had brought to the table.