What is the purpose of the Bali package?
The Bali Package is a set of agreements made at the World Trade Organization’s Ninth Ministerial Conference, which took place in Bali, Indonesia, in 2013. The main purpose of the Bali Package is to improve the international trade system and reduce barriers to trade, in order to increase global economic growth. The Bali Package includes reforms to Customs procedures, easier access to export subsidies, and new rules for handling trade remedies, as well as the Trade Facilitation Agreement. The Trade Facilitation Agreement is the most important part of the Package. It seeks to simplify and streamline border processes and procedures, reduce paperwork, and make international trade faster, easier and cheaper for both developed and developing countries. The Bali Package also provides a framework for further negotiations between countries on the terms of access to their markets. This could open up new avenues of trade between California and other countries. The package sets up a dispute settlement system to ensure that countries can enforce the commitments they make in trade agreements. In addition to reducing barriers to trade, the Bali Package seeks to increase trade between countries by improving the ability of developing countries to participate in the global economy and by helping countries to strengthen economic development. The package is a major step toward creating a more efficient and equitable global trading system.
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