| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
WTO trade agreement could boost world GDP by $1 trillion
Monday, December 9, 2013 0:50
% of readers think this story is Fact. Add your two cents.
The WTO Bali trade facilitation agreement has 159 countries agreeing to a set of common customs procedures around everything from publishing their customs regulations and forms to issues around pre-clearance. It’s one reason why estimates state this will contribute upwards of $1 trillion to global GDP
The deal reached in Bali lets India and other developing nations continue to subsidize their crops to bolster food security without having to worry about legal challenges, so long as the practice doesn’t distort international trade, according to a draft text. The U.S. and other members of the Geneva-based WTO would retain the right to file a complaint if subsidized goods are sold in global markets and depress prices or harm competitors.
Source: http://nextbigfuture.com/2013/12/wto-trade-agreement-could-boost-world.html
