WTO approves long awaited $ 1 trillion trade deal

Bali, Indonesia:  159 world economies has approved long awaited $ 1 trillion trade deal in Bali Indonesia on December 7, 2013.

Failing to agree in Bali could have been seen as a signal the governing trade body was no longer relevant or credible.

Negotiations failed last month in Geneva, Switzerland, as diplomats at the summit were unable to strike an agreement on lower tariffs. Consensus was eroded as countries favor smaller scale talks, for example the Trans – Pacific Partnership (TPP) deal between the US and EU, and the soon to be Eurasian Economic Union.

Bali Indonesia on December 7, 2013:

BALI MINISTERIAL DECLARATION says:

We, the Ministers, have met in Bali, Indonesia, from 3 to 6 December 2013 at our Ninth
Session. As we conclude our Session, we would like to express our deep appreciation to the
Government and people of Indonesia for the excellent organization and the warm hospitality we have received in Bali.
1.2. We reaffirm the principles and objectives set out in the Marrakesh Agreement Establishing the World Trade Organization. We also recall the Declarations and Decisions we adopted at Doha and at the Ministerial Conferences we have held since then and reaffirm our full commitment to give effect to them.
1.3. To this effect, we take note of the reports from the General Council and its subsidiary bodies.
We welcome the progress that these reports, and the Decisions stemming from them, show in the work of the WTO, thereby strengthening its effectiveness and the multilateral trading system as a whole.
1.4. We particularly welcome the advances made in the Doha Development Agenda (DDA), as represented by the Decisions and Declarations we have adopted at our present session. These Decisions and Declarations signify that we have taken a major step forward in the negotiations and attest to our strong resolve to complete the DDA.

PART I – REGULAR WORK UNDER THE GENERAL COUNCIL
1.5. We welcome the progress in the regular work under the General Council, including under the mandates that we gave at our Eighth Session, and the following decisions we have adopted at our Ninth Session:
 TRIPS Non-violation and Situation Complaints – Draft Ministerial Decision –
WT/MIN(13)/W/2
 Work Programme on Electronic Commerce – Draft Ministerial Decision –
WT/MIN(13)/W/3
 Work Programme on Small Economies – Draft Ministerial Decision – WT/MIN(13)/W/4
 Aid for Trade – Draft Ministerial Decision – WT/MIN(13)/W/5
 Trade and Transfer of Technology – Draft Ministerial Decision – WT/MIN(13)/W/6

1.6. We further welcome the following decisions taken in Geneva in response to the relevant
mandates from our Eighth Session:
 Decision adopted by the TRIPS Council concerning the extension of the transition
period under Article 66.1 for Least-Developed Country Members in document IP/C/64; WT/MIN(13)/DEC/W/1/Rev.1 – 2 –
 Decision adopted by the General Council in July 2012 on the Accession of LDCs in
document WT/L/508/Add.1.
1.7. We welcome those new Members who have completed their accession processes since our
last Session. In particular, we note with satisfaction that, at our present Session, we have
adopted the Decision on the Accession of the Republic of Yemen (WT/MIN(13)/24- WT/L/905). We recognize the contribution of accession to strengthening the multilateral trading system and remain committed to efforts to facilitate accessions.
PART II – DOHA DEVELOPMENT AGENDA
1.8. We welcome the progress in the DDA, which is embodied in the following Decisions and
Declarations we have adopted at our Ninth Session:
Trade Facilitation
 Agreement on Trade Facilitation – Draft Ministerial Decision – WT/MIN(13)/W/8
In this regard, we reaffirm that the non-discrimination principle of Article V of
GATT 1994 remains valid.
Agriculture
 General Services – Draft Ministerial Decision – WT/MIN(13)/W/9
 Public Stockholding for Food Security Purposes – Draft Ministerial Decision –
WT/MIN(13)/W/10
 Understanding on Tariff Rate Quota Administration Provisions of Agricultural Products,
as Defined in Article 2 of the Agreement on Agriculture – Draft Ministerial Decision –
WT/MIN(13)/W/11
 Export Competition – Draft Ministerial Declaration – WT/MIN(13)/W/12
Cotton
 Cotton – Draft Ministerial Decision – WT/MIN(13)/W/13
Development and LDC issues
 Preferential Rules of Origin for Least-Developed Countries – Draft Ministerial Decision
– WT/MIN(13)/W/14
 Operationalization of the Waiver Concerning Preferential Treatment to Services and
Service Suppliers of Least-Developed Countries – Draft Ministerial Decision –
WT/MIN(13)/W/15
 Duty-Free and Quota-Free (DFQF) Market Access for Least-Developed Countries –
Draft Ministerial Decision – WT/MIN(13)/W/16
 Monitoring Mechanism on Special and Differential Treatment – Draft Ministerial
Decision – WT/MIN(13)/W/17
PART III – POST-BALI WORK
1.9. We reaffirm our commitment to the WTO as the pre-eminent global forum for trade, including negotiating and implementing trade rules, settling disputes and supporting development through the integration of developing countries into the global trading system. In this regard, we reaffirm our commitment to the Doha Development Agenda, as well as to the regular work of the WTO.
1.10. We take note of the progress that has been made towards carrying out the Doha Work
Programme, including the decisions we have taken on the Bali Package during this Ministerial Conference. These decisions are an important stepping stone towards the completion of the Doha WT/MIN(13)/DEC/W/1/Rev.1

– 3 –
Round. We reaffirm our commitment to the development objectives set out in the Doha
Declaration, as well as to all our subsequent decisions and declarations and the Marrakesh
Agreement Establishing the WTO.
1.11. To further demonstrate this commitment, we instruct the Trade Negotiations Committee to prepare within the next 12 months a clearly defined work program on the remaining Doha
Development Agenda issues. This will build on the decisions taken at this Ministerial Conference, particularly on agriculture, development and LDC issues, as well as all other issues under the Doha mandate that are central to concluding the Round. Issues in the Bali Package where legally binding outcomes could not be achieved will be prioritised. Work on issues in the package that have not been fully addressed at this Conference will resume in the relevant Committees or Negotiating Groups of the WTO.
1.12. The work program will be developed in a way that is consistent with the guidance we
provided at the Eighth Ministerial Conference, including the need to look at ways that may allow Members to overcome the most critical and fundamental stumbling blocks.
1.13. As we prepare the work program, we will remain available for further contacts amongst ourselves and with the Director-General on these matters as we move forward in 2014.