The European Union has formally requested that the exchange of tariff proposals with Mercosur for the creation of a cooperation and free trade zone, originally scheduled for next week, be delayed until 2014. The message was received by the Brazilian delegation at the recent WTO Bali discussions.
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.