Abstract
The then 159 members of the World Trade Organization (WTO) agreed to the so-called “Bali Package” after intense negotiations at the Ninth Ministerial Conference in Bali, Indonesia. One of the key points was the new Agreement on Trade Facilitation. It eliminates many of the bureaucratic hurdles and difficulties surrounding the trade in goods, and creates standardised framework conditions for customs procedures. This is good news for all enterprises involved in international trade and should be implemented, as foreseen in Bali, in due course.
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Notes
- 1.
See the General Agreement on Trade in Services (GATS), Annex 1B WTO Agreement.
- 2.
See the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), Annex 1C WTO Agreement.
- 3.
See the Understanding on Rules and Procedures Governing the Settlement of Disputes (DSU), Annex 2 WTO Agreement.
- 4.
Director-General during the transition period from GATT to WTO, 1993–1995.
- 5.
Bhagwati (1995).
Reference
Bhagwati JN (1995) US trade policy: the infatuation with FTAs. In: Bhagwati JN, Krueger AO (eds) The dangerous drift to preferential trade agreements, American Enterprise Institute for Public Policy Research, Washington, DC
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© 2015 Springer International Publishing Switzerland
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Brünjes, K., Weidenfeller, M. (2015). Multilateral Trade Policy Is Back. In: Herrmann, C., Simma, B., Streinz, R. (eds) Trade Policy between Law, Diplomacy and Scholarship. European Yearbook of International Economic Law(). Springer, Cham. https://doi.org/10.1007/978-3-319-15690-3_6
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DOI: https://doi.org/10.1007/978-3-319-15690-3_6
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