Diplomats Make Trade Deal To Cut Red Tape, Poverty

GENEVA — After many years of talking, the World Trade Organization pulled off a major deal Thursday that the body said could boost global commerce by $1 trillion annually. Diplomats said the deal is the first multilateral trade agreement in the organization’s 20-year history. Agreement has been difficult to reach because WTO deals require the unanimous backing of its 160 member countries. “Once in force, it will help developing countries better integrate into the global economy, intensify regional integration and lift millions out of poverty,” said European Union Trade Commissioner Cecilia Malmstrom. WTO Director-General Roberto Azevedo said the deal is now operational but will come into force once two-thirds of the members have officially accepted it. “This is a very important moment for the WTO,” said Azevedo.