In the first-ever agreement reached after the launch of the Doha Round of trade talks, Ministers from 159 countries approved the Bali package early this morning.
After tortuous negotiations in the last four days and a last-minute hiccup from Cuba and three others Latin American countries opposing a deal, the Ministers reached an agreement in discussions that extended beyond the four-day schedule.
Yesterday, India scored a major victory when WTO agreed to allow countries to provide subsidy on staple food crops without any threat of punitive action.
On the contentious issue of public stock holding of grains for food security purposes, Gita said: "We have negotiated a package for food security that will provide food to millions of poor in the world."
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Commerce and Industry Minister Anand Sharma too described the decision as historic for India.
On the trade facilitation agreement, Gita said that pact would boost global trade by USD 1 trillion.
"We did it...It is a historic deal...These are historic achievements...But there is still much to do...," Gita added.
The WTO has achieved a major breakthrough since 1995, when it was formed.