ICC stresses continued efforts for WTO deal

The International Chamber of Commerce (ICC) has urged the members of World Trade Organisation (WTO) to spare no effort and to demonstrate the political will needed to achieve a trade facilitation agreement in time for the Bali Ministerial Conference next week.
“This is a clarion call for global business to continue urging WTO member governments and trade ministers to engage with each other informally, and bridge remaining gaps in order to reach a trade facilitation agreement in Bali next week,” ICC Secretary General Jean-Guy Carrier said.
“ICC's global network—comprising over 6.5 million companies around the world—will keep pushing WTO members to reach agreement before the end of the Bali Ministerial,” the chamber said in a statement yesterday.
“This is a critical moment in the WTO negotiation process and it is all the more important for business to stay engaged and keep pushing for an agreement. A deal can still be done," said ICC Chairman Harold (Terry) McGraw.
"According to a recent study commissioned by ICC, the WTO trade facilitation agreement could boost global GDP by $960 billion annually and increase exports of developing countries by $570 billion and of developed countries by $475 billion.”
“It would also create 18 million jobs in developing countries and 3 million in developed countries,” he said.
“The prospect of such significant benefits to the world economy compels WTO members and trade ministers to talk to each other and compels business to urge them to conclude a substantive agreement," said Victor K Fung, chairman of ICC's World Trade Agenda initiative.