| NUSA DUA, Indonesia
NUSA DUA, Indonesia Dec 7 The World Trade
Organization reached its first ever trade reform deal on
Saturday to the roar of approval from nearly 160 ministers who
had gathered on the Indonesian island of Bali to decide on the
make-or-break agreement that could add $1 trillion to the global
The approval came after Cuba dropped a last-gasp threat to
veto the package of measures.
"For the first time in our history, the WTO has truly
delivered," a tearful WTO chief Roberto Azevedo said.
"This time the entire membership came together. We have put
the 'world' back in World Trade Organization," he said.
The talks had dragged into an extra day after Cuba at the
last minute refused to accept a deal that would not help pry
open the U.S. embargo of the Caribbean island. It later agreed
on compromise language with the United States.
The agreement marks WTO's first global trade agreement since
it was created in 1995 and rescues the WTO from the brink of
failure and will rekindle confidence in its ability to lower
barriers to trade worldwide, after 12 years of fruitless
(Additional reporting by Tom Miles in Geneva, Writing by
Jonathan Thatcher; Editing by Michael Perry)