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WTO approves Bali package of agreements

December 07, 2013, 9:19 UTC+3 BALI

The decision was traditionally taken by a consensus

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© EPA/MADE NAGI

BALI, December 07, 9:10 /ITAR-TASS/. World Trade Organization member countries have approved the Bali package of agreements. The decision was traditionally taken by a consensus.

The countries officially adopted the agreement on trade procedures, five agrarian documents, including a food security agreement and a declaration on export competition, and four documents to support least developed countries.

The Bali package forms a basis to conclude the Doha round of WTO talks, deadlocked since 2008, to liberalize world trade. The talks are aimed at lowering tariffs on trade in agricultural products and industrial goods.

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