The Bali Package is a trade agreement resulting from the Ninth Ministerial Conference of the World Trade Organization in Bali, Indonesia on 3–7 December 2013. It is aimed at lowering global trade barriers and is the first agreement reached through the WTO that is approved by all its members. The package forms part of the Doha Development Round, which started in 2001.
|Context||Doha Development Round of the World Trade Organization|
|Signed||7 December 2013|
|Location||Nusa Dua, Bali, Indonesia|
The accord includes provisions for lowering import tariffs and agricultural subsidies, with the intention of making it easier for developing countries to trade with the developed world in global markets. Developed countries would abolish hard import quotas on agricultural products from the developing world and instead would only be allowed to charge tariffs on amounts of agricultural imports exceeding specific limits. Another important target is reforming customs bureaucracies and formalities to facilitate trade.
The Peterson Institute for International Economics estimate that if the customs measures of the agreement are properly implemented, they could create US$1 trillion worth of global economic activity, add 21 million new jobs and lower the cost of doing international trade by 10–15 percent.
Before the agreement, the negotiations repeatedly came close to collapsing. India's demand that it should be allowed to extend its domestic agricultural subsidies indefinitely was met by opposition from the U.S., while Cuba, Bolivia, Nicaragua, and Venezuela objected to the removal of a text relating to the U.S. embargo against Cuba. Eventually, India and the U.S. reached a compromise where a permanent solution to the Indian subsidies will be decided in separate future negotiations within four years, while Cuba reached a compromise that saw it refrain from vetoing the agreement. The U.S. and India came to a permanent agreement regarding India's food subsidies in November 2014.
The negotiations were originally scheduled for 3–6 December 2013. However, they had to extend until 7 December for an agreement to be reached. In December 2013, South African trade minister Rob Davies questioned the balance in the agreements regarding the long-term benefits for the least-developed countries. This was the first multilateral agreement by the WTO (concluded with 160 countries) and restored the legitimacy of the WTO as a negotiating forum.
In November 2015, India's Prime Minister Narendra Modi stated that the Bali Package had gone through a slowdown since its signature, urging other countries to implement it in due time. This statement followed a visit by Barack Obama in India, the Bali Package being on the US president's agenda.
In Africa, critics of the plan raised the issue that the Bali Package mainly facilitates imports in the continent and they anticipated that the plan will hurt Africa's trade balance.
Events from the year 2013 in IndonesiaAppellate Body
The Appellate Body of the World Trade Organization (WTOAB) is a standing body of seven persons that hears appeals from reports issued by panels in disputes brought on by WTO members. The WTOAB can uphold, modify or reverse the legal findings and conclusions of a panel, and Appellate Body Reports, once adopted by the Dispute Settlement Body (DSB), must be accepted by the parties to the dispute. The WTOAB has its seat in Geneva, Switzerland. It has been termed by at least one journalist as "effectively the supreme court of world trade".Director-General of the World Trade Organization
The Director-General of the World Trade Organization is responsible for supervising the administrative functions of the World Trade Organization (WTO). Because World Trade Organizations' decisions are made by member states (through either a Ministerial Conference or through the General Council), the Director-General has little power over matters of policy - the role is primarily advisory and managerial. The Director-General supervises the WTO secretariat of about 700 staff and is appointed by WTO members for a term of four years.The current Director-General is Roberto Azevêdo of Brazil, since 1 September 2013.Before the creation of the WTO, the General Agreement on Tariffs and Trade had a series of Directors-General. Peter Sutherland was the last DG of GATT and the first of the WTO.Dispute Settlement Body
The Dispute Settlement Body (DSB) of the World Trade Organization (WTO) makes decisions on trade disputes between governments that are adjudicated by the Organization. Its decisions generally match those of the Dispute Panel.List of Latin American and Caribbean countries by GDP (nominal)
This is a list of Latin American and Caribbean countries by gross domestic product (nominal) in USD according to the International Monetary Fund's estimates in the October 2018 World Economic Outlook database.
Cuba is not included in the list due to lack of economic data. Puerto Rico is not listed since it is a U.S. territory.List of Latin American and Caribbean countries by GDP growth
This is a list of estimates of the real gross domestic product growth rate (not rebased GDP) in Latin American and Caribbean states for the latest years recorded in the CIA World Factbook. States are not included if their latest growth estimate was for a year prior to 2014. The list contains some non-sovereign territories.Ministerial Conference
The Ministerial Conference is the top decision making body of the World Trade Organization (WTO). There have been eleven ministerial conferences from 1996 to 2017, usually every two years.Peace Clause
Trade negotiators generally refer to Article 13 of the World Trade Organization's Agreement on Agriculture as the Peace Clause. Article 13 holds that domestic support measures and export subsidies of a WTO Member that are legal under the provisions of the Agreement on Agriculture cannot be challenged by other WTO Members on grounds of being illegal under the provisions of another WTO agreement.
The Peace Clause has expired on January 1, 2004. It is now possible, therefore, for developing countries and nations favoring free trade in agricultural goods, such as the Cairns Group, to use the WTO dispute settlement mechanism in order to challenge, in particular, U.S. and EU export subsidies on agricultural products.
Another temporary peace clause was made at the WTO Bali conference in December 2013. It stipulated that no country would be legally barred from food security programs for its own people even if the subsidy breached the limits specified in the WTO Agreement on Agriculture.Roberto Azevêdo
Roberto Carvalho de Azevêdo (Portuguese pronunciation: [ʁoˈbɛʁtu kaʁˈvaʎu dʒi azeˈvedu]; born 3 October 1957) is a Brazilian career diplomat and the current Director-General of the World Trade Organization. Azevêdo was elected to succeed Pascal Lamy as Director-General of the World Trade Organization in May 2013. He assumed office on 1 September 2013. He is paid a salary of 300,000 Swiss francs and an allowance of 200,000.Singapore issues
The "Singapore issues" refers to four working groups set up during the World Trade Organization Ministerial Conference of 1996 in Singapore. These groups are tasked with these issues: transparency in government procurement, trade facilitation (customs issues), trade and investment, and trade and competition. These issues were pushed at successive Ministerials by the European Union, Japan and Korea, and opposed by most developing countries. The United States was lukewarm about the inclusion of these issues, indicating that it could accept some or all of them at various times, but preferring to focus on market access. Disagreements between largely developed and developing economies prevented a resolution in these issues, despite repeated attempts to revisit them, notably during the 2003 Ministerial Conference in Cancún, Mexico, whereby no progress was made.Since, some progress has been achieved in the area of trade facilitation. In July 2004, WTO Members formally agreed to launch negotiations. Under the mandate of the so-called "July package", Members are directed to clarify and improve GATT Article V (Freedom of Transit), Article VIII (Fees and Formalities connected with Importation and Exportation), and Article X (Publication and Administration of Trade Regulations). The negotiations also aim to enhance technical assistance and capacity building in this area and to improve effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues.
To date, Members have submitted a great number of proposals under the mandate which provide the basis for the ongoing negotiations. The negotiations should be completed under the overall Doha Development Agenda timeline.TFA
TFA may refer to:
Taipei Football Association, a football association in Taipei, Taiwan
Tata Football Academy, a football (soccer) organisation in Jamshedpur, India
Teach For America, a non-profit organization to recruit teachers for public schools
Terengganu FA, a Malaysian football club
Texas Forensic Association, an organization that provides speech and debate competitions for high school students
The Freedom Association, a free-market libertarian advocacy group in the United Kingdom
Trade Facilitation Agreement, part of the 2013 WTO Bali Package
Trans fatty acid, the common name for a type of unsaturated fat with trans isomer fatty acid(s)
Trifluoroacetic acid, a strong carboxylic acid widely used in organic chemistry
Trifluoroacetone, a chemical compound
Two-factor authentication, an approach using two independent factors to verify identity in computer security
InuYasha: The Final Act, a Japanese anime series from InuYasha
Transformers: Animated, an animated series based on the Transformers toyline
Captain America: The First Avenger, a 2011 superhero film in the Marvel Cinematic Universe
Star Wars: The Force Awakens, an American 2015 science fiction film
Things Fall Apart, a 1959 novel by Nigerian author Chinua Achebe
#TFA, a hashtag allegedly used by people in the Trump administration to refer to the Twenty-fifth Amendment to the United States ConstitutionWorld Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization that is concerned with the regulation of international trade between nations. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. It is the largest international economic organization in the world.The WTO deals with regulation of trade in goods, services and intellectual property between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which are signed by representatives of member governments and ratified by their parliaments. The WTO prohibits discrimination between trading partners, but provides exceptions for environmental protection, national security, and other important goals. Trade-related disputes are resolved by independent judges at the WTO through a dispute resolution process.The WTO's current Director-General is Roberto Azevêdo, who leads a staff of over 600 people in Geneva, Switzerland. A trade facilitation agreement, part of the Bali Package of decisions, was agreed by all members on 7 December 2013, the first comprehensive agreement in the organization's history. On 23 January 2017, the amendment to the WTO Trade Related Aspects of Intellectual Property Rights (TRIPS) Agreement marks the first time since the organization opened in 1995 that WTO accords have been amended, and this change should secure for developing countries a legal pathway to access affordable remedies under WTO rules.Studies show that the WTO boosted trade, and that barriers to trade would be higher in the absence of the WTO. The WTO has highly influenced the text of trade agreements, as "nearly all recent [preferential trade agreements (PTAs)] reference the WTO explicitly, often dozens of times across multiple chapters... in many of these same PTAs we find that substantial portions of treaty language—sometime the majority of a chapter—is copied verbatim from a WTO agreement."World Trade Organization Ministerial Conference of 1996
The World Trade Organization's Ministerial Conference of 1996 was held in Singapore on December 9 - December 13, 1996. The inaugural meeting for the organisation since its formation. The event was hosted by the government of Singapore at the Singapore International Convention and Exhibition Centre in Suntec City.
The conference established four permanent working groups: transparency in government procurement, trade facilitation (customs issues), trade and investment, and trade and competition. These groups collectively are called the Singapore issues.World Trade Organization Ministerial Conference of 1998
The Second Ministerial Conference of the World Trade Organization was held in Geneva, Switzerland between 18 and 20 May 1998.World Trade Organization Ministerial Conference of 2009
The WTO General Council, on 26 May 2009, agreed to hold a seventh WTO ministerial conference session in Geneva from 30 November - 3 December 2009. A statement by chairman Amb. Mario Matus acknowledged that the prime purpose was to remedy a breach of protocol requiring two-yearly "regular" meetings, which had lapsed with the Doha Round failure in 2005, and that the "scaled-down" meeting would not be a negotiating session, but "emphasis will be on transparency and open discussion rather than on small group processes and informal negotiating structures". The general theme for discussion is "The WTO, the Multilateral Trading System and the Current Global Economic Environment".World Trade Organization Ministerial Conference of 2011
The WTO General Council held an eighth WTO ministerial conference session in Geneva from 15–3 December 2011.
Membership agreement where made for Russia, Samoa, and Montenegro, dependent on the ratification of those countries. The consent of Russia`s membership was seen as important, since the country had been the largest major economy outside the organization since the accession of China in 2001.World Trade Organization Ministerial Conference of 2013
The Ninth World Trade Organization Ministerial Conference was held in Bali, Indonesia from 3 to 7 December 2013. The conference was chaired by the Indonesian Trade Minister Gita Wirjawan.In this conference, 159 members of World Trade Organization agreed to the Bali Package which aims to ease barriers to international trade.Yemen's agreement was also registered, dependent on the country's membership ratification.World Trade Organization Ministerial Conference of 2015
The Tenth World Trade Organization Ministerial Conference was held in Nairobi, Kenya from 15 to 19 December 2015. The conference was chaired by the Kenyan Foreign Affairs Minister Amina Mohamed.Afghanistan and Liberia acceded to the WTO, bringing the total membership of the organization to 164, with the total number of least-developed countries who have joined since 1995 rising to nine.World Trade Organization Ministerial Conference of 2017
The 11th World Trade Organization Ministerial Conference was held in Buenos Aires, Argentina, from 11 to 13 December 2017. It was chaired by Minister Susana Malcorra of Argentina. The Conference ended with a number of ministerial decisions, including on fisheries subsidies and e-commerce duties, and a commitment to continue negotiations in all areas. The conference also led to the formation of working party to enable faster induction of South Sudan in the WTO.