The Trans Pacific Partnership, one of the biggest multinational trade deals ever, has been signed by ministers from its 12 member nations in New Zealand. The ceremony in Auckland brings the huge trade pact, which has been five years in the making, another step towards to becoming a reality. But the TPP continues to face opposition.
After many years of talking, the World Trade Organization (WTO) pulled off a major deal last week that the body said could boost global commerce by one trillion dollars annually. The deal is the first multilateral trade agreement in the organization’s 20-year history. Agreement has been difficult to reach because WTO deals require the unanimous backing of its 160 member countries.
The World Trade Organization has agreed its first ever global deal aimed at boosting commerce. The agreement reached in Bali, Indonesia, simplifies trade procedures and also makes it easier for the poorest countries to sell their goods.