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Saturday, 7 December 2013

International Trade finally reaches mile stone

For the first time in about 20 years, a meeting of the World Trade Organisation (WTO) consisting of 159 nations, has delivered an agreeable and concise deal. This deal was done up so well, that Mr. Robert Azavedo began to tear up, and cry during the closing ceremonies as he thanked the Indonesian representative.
In the eyes of The iBusiness Times, this deal us good enough to be passed by the WTO because it was not taking giant glamorous steps to impossible to achieve goals, or not so vague that it was ineffective. It was well written, concise deal, that instead of eliminating all the problems and boosting international trade immediately, limited and restricted problems, and eased the cooperation between countries. The deal also does not neglect nations who do not have the financial power or economic stability to carry out giant steps. 
http://www.washingtonpost.com/world/the_americas/cuba-throws-wrench-in-wto-talks-over-trade-embargo/2013/12/06/0f85e0c4-5eeb-11e3-8d24-31c016b976b2_story.html

In short, the deal, drafted and signed over a 4 day WTO conference in the wonderful island of Bali (Indonesia), stated that it would turn down slightly, the customs and procedures. This would make them less complex, and easier, as well as safer (without confusion) to get through. This is a simple step could be carried out by any and all countries, and means that international trade is being stimulated. 
This deal should be implemented soon, and is a fantastic first step towards better economies worldwide, as well as better relationships between countries, at least economically, which will eventually influence many other governmental departments.
The deal claims to be able to get about $1 trillion over time.

Source(s):
http://www.telegraph.co.uk/news/worldnews/asia/indonesia/10502425/Deal-to-boost-global-trade-reached-at-WTO-summit-w.html
http://www.bbc.co.uk/news/business-25274889

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