IMF chief hails WTO trade agreement

The breakthrough agreement reached in Bali by the WTO reaffirms the international community`s commitment to an open trade system which boosts global growth and jobs, and cuts poverty, Xinhua reported citing IMF chief Christine Lagarde.

IANS| Last Updated: Dec 09, 2013, 09:25 AM IST

Washington: The International Monetary Fund (IMF) has welcomed the breakthrough in multilateral trade negotiations as global trade ministers reached a historical deal at the World Trade Organisation`s (WTO) meeting in Indonesia.

The breakthrough agreement reached in Bali by the WTO reaffirms the international community`s commitment to an open trade system which boosts global growth and jobs, and cuts poverty, Xinhua reported citing IMF chief Christine Lagarde.

"I fully support WTO Director General Roberto Azevedo`s determination to use this opportunity to move the broader Doha Development Agenda forward, and overcome the significant challenges that still lie ahead."

After more than a decade of negotiations and missed deadlines, the 159-member WTO Saturday achieved a breakthrough in its multilateral trade negotiation by sealing its first-ever trade package at its ninth ministerial meeting.