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Bali Agreement Important Step for International Trade

Dec 08, 2013

The International Chamber of Commerce Ireland has today (08/12/13) welcomed the historic agreement at the 9th World Trade Organization (WTO) Ministerial Conference in Bali as a result that will not only restore confidence in the multilateral trading system but also generate a much needed stimulus of $US1 trillion and 21 million jobs to the world economy.  

The agreement reached on trade facilitation is expected to reduce cross-border transaction costs for companies by 10-15% and is significant for businesses in all sectors and of all sizes around the world.

Speaking this morning, ICC Ireland Secretary General Ian Talbot said “This agreement is an important step that will lower barriers to trade and speed up customs procedures across the globe. This agreement will be of great benefit to a country like Ireland that relies so heavily on exports. The fact that this is the WTO’s first trade agreement provides hope that other important elements of the Doha Development Agenda can be completed.”

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For further information contact Amy Woods, Chambers Ireland on 01 400 4319, 086 6081605 or email amy.woods@chambers.ie .

Notes to Editor
About the International Chamber of Commerce (ICC) in Ireland
Chambers Ireland is the official representative of the International Chamber of Commerce in Ireland. ICC is the largest, most representative business organisation in the world. Its hundreds of thousands of member companies in over 120 countries have interests spanning every sector of private enterprise.

A world network of national committees keeps the ICC International Secretariat in Paris informed about national and regional business priorities. More than 2,000 experts drawn from ICC’s member companies feed their knowledge and experience into crafting the ICC stance on specific business issues.

The United Nations, the World Trade Organisation, the G20 and many other intergovernmental bodies, both international and regional, are kept in touch with the views of international business through ICC.

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