OECD Secretary-General Angel Gurría welcomed the historic deal reached by World Trade Organisation members during their recent ministerial meeting, which concluded today in Bali.
Mr Gurría said the trade facilitation agreement at the core of the new package would cut red tape and speed border crossings worldwide, offering an important boost to world trade and the global economy. "As OECD work has highlighted, the benefits of lowering costs for traders are significant, and are particularly welcome today, given the slow growth seen in so many countries," Mr Gurría said.
The agreement reached in Bali also addressed the specific concerns of countries, particularly developing countries, in the area of agriculture and food security.
"That a deal was reached in Bali is not only good news for the world economy - it's a victory for multilateralism," Mr Gurría said. "The WTO has proved it can bridge differences across diverse views and build on countries' shared interest in a well-functioning and rules-based international trading system."
Congratulating WTO Director General Roberto Azevedo and trade ministers for reaching this important milestone, Mr Gurría urged all parties to maintain momentum and apply the same commitment to resolving other aspects of the Doha Development Agenda. "The OECD will continue to contribute towards our common goal of a freer and fairer world trading system."
Saturday December 7, 2013/ OECD.