DOHA 2013 – Bali claims success at lowering trade costs.
The long stalled and unproductive DOHA round has reported progress during the weekend close to negotiations.
This agreement focuses on “trade facilitation,” which are governmental measures to reduce the cost of trade to business by cutting red tape in customs procedures. Most of the benefits are predicted to flow toward production and trade based within or relying upon facilities within developing countries.
Several difficult issues, such as those related to agricultural subsidies, “food security,” etc. were not fully addressed. Many new reports imply that the real success of the DOHA 2013 agreement is the demonstration that the WTO may be a viable multilateral forum for further trade agreements.