The 9th Ministerial conference of the World Trade Organization (WTO) in Bali ended today with a major - and to some extent unexpected - success. The 159 WTO member states agreed on a package including a Trade Facilitation Agreement which will simplify and harmonise trading procedures and modernisation of customs handling in developing countries.
"The European distribution and import sector has been campaigning for such a deal for more than a decade and, finally, our efforts have paid off. We expect a major improvement for companies doing international trading business which will allow our members to save millions of euros every year", Jan Eggert, Director General of the Foreign Trade Association (FTA), commented the outcome.
To read the complete press release, click here.