WTO seals its first ever trade agreement

The World Trade Organization created history on Saturday as it reached its first ever trade deal in 18 years since its formation in 1995. The first ever WTO agreement comes after Cuba dropped the veto at the ninth WTO meet in the Indonesian island of Bali. The deal could add $1 trillion to the global economy. 

“For the first time in our history, the WTO has truly delivered,” a tearful WTO chief Roberto Azevedo said.

“This time the entire membership came together. We have put the ‘world’ back in World Trade Organization. We’re back in business. Bali is just the beginning,” he added.

(Additional Info from Reuters)

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