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Modernization Of Global Trade Under Bali Agreement To Save WTO Members $1 Trillion Yearly

Nov 28, 2014 04:10 AM EST

By streamlining and harmonizing customs procedures, members of the World Trade Organization (WTO) are expected to save over $1 trillion yearly under the Bali Agreement reached on Thursday. Also called the Trade Facilitation Agreement (TFA), the deal is expected to create 21 million jobs resulting from cuts in transaction costs and easing of customs rules.

EU and Australia-Led Group Urge India To Reconsider WTO Trade Deal

Christl Leong |

Jul 27, 2014 03:58 AM EDT

Following India's refusal on Thursday to sign a World Trade Organization (WTO) trade deal unless its concerns on food security were addressed, the European Union (EU) and a 25-country Australian-led group urged New Delhi to rethink its decision.