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The Bali Package is a trade agreement resulting from the Ninth Ministerial Conference of the World Trade Organization in Bali, Indonesia on 3–7 December 2013. It is aimed at lowering global trade barriers and is the first agreement reached through the WTO that is approved by all its members.
The Ninth World Trade Organization Ministerial Conference was held in Bali, Indonesia from 3 to 7 December 2013. [1] The conference was chaired by the Indonesian Trade Minister Gita Wirjawan. [2] In this conference, 159 members of World Trade Organization agreed to the Bali Package which aims to ease barriers to international trade. [3]
The ministerial conference was held in Cancún, Mexico, aiming at forging agreement on the Doha round.An alliance of 22 southern states, the G20 (led by India, China [2] and Brazil), resisted demands from the North for agreements on the so-called "Singapore issues" and called for an end to agricultural subsidies within the EU and the US.
The round led to the creation of WTO, and extended the range of trade negotiations, leading to major reductions in tariffs (about 40%) and agricultural subsidies, an agreement to allow full access for textiles and clothing from developing countries, and an extension of intellectual property rights.
Trade negotiators generally refer to Article 13 of the World Trade Organization's Agreement on Agriculture as the Peace Clause.Article 13 holds that domestic support measures and export subsidies of a WTO member that are legal under the Agreement on Agriculture cannot be challenged by other WTO members on grounds of being illegal under the provisions of another WTO agreement.
Bali (English: / ˈ b ɑː l i /; Balinese: ᬩᬮᬶ) is a province of Indonesia and the westernmost of the Lesser Sunda Islands.East of Java and west of Lombok, the province includes the island of Bali and a few smaller offshore islands, notably Nusa Penida, Nusa Lembongan, and Nusa Ceningan to the southeast.
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The round led to the creation of WTO, and extended the range of trade negotiations, leading to major reductions in tariffs (about 40%) and agricultural subsidies, an agreement to allow full access for textiles and clothing from developing countries, and an extension of intellectual property rights.
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