The Bali package has included the concerns of Least Developed Countries (LDCs), according to the minister.
Talking to the journalists at Tribhuwan International Airport at his arrival from the ninth ministerial conference of World Trade Oragnisation (WTO) today, trade, commerce and supplies and finance minister Shankar Koirala, said that Nepal played an active role – as the chair of the LDCs under WTO – to facilitate between developed and LDCs in solving the thorny issues.
The issues raised by the LDCs including duty-free, quota-free market access to the developed market, cotton, waiver in service trade, trade facilitation, and agriculture have been included in the Bali package, he said, terming the agreement as historic.
The agreement is said to be historic also as it is the only achievement after the establishment of global trade regime. "It has also committed to finalise the remaining issues of Doha Round," Koirala added. "The agreement will increase confidence on multilateral trading system."
The Bali package that has included intellectual property rights, simplification and transparent membership provision, technical support for trade, and unified structure for trade expansion which will benefit LDCs like Nepal is a major achievement, he opined.
Some 159 member countries' ministers and representatives have participated in the ministerial conference that stared on December 3 concluded with the historic deal on December 6.Koirala, led Nepali delegation returned today.