According to the media reports, an international trade agreement has been inked by almost all the nations of the world which would greatly enhance the trade and commerce activities in all parts of the world and play its vital role in reducing poverty from the world. A large number of third world and developing countries are faced with the increasing trend of poverty accompanied with unemployment, economic failures and others. At the same time, many developed countries of the world were badly hit by the catastrophic economic downfall of 2008 from which many countries have recovered while many are still struggling to recover. Having a look at these problems, the economic experts of different countries sat together and came up with this agreement under the lead of WTO (World Trade Organization). The deal was signed in Bali, the island tourist spot of Indonesia.

According to the details, 159 countries of the world have signed on this agreement and according to the economic experts, the deal would increase the overall capacity of world economy by 10 trillion dollars. According to this deal, developing countries would be able to make their better access to the different markets of the world and sell their products which would increase the financial activities in their countries and more job opportunities will be produced. At the same time, it has been agreed that more food protection should be provided to the poor counties that are regularly faced with famines, draught and the resultant food shortage. This would increase the nutritional level of these countries and the deaths due to food shortages would be greatly reduced.

The countries also agreed to issue short and long term loans for each other so that the economic activities should be supported and countries should be saved of falling into bankruptcy. In this regard, Greece and later on to some extent, Spain was helped by the European Union to tackle their financial deadlocks and now the same cooperation would be extended by the member countries to all the countries of the world.

The agreement also makes sure that the trade relations between the member counties of WTO should be increased and the process of conducting trade should be eased so that countries should be able to carry out trade with each other with more ease and comfort and there should not be any kind of obstacles in this regard.

Overall, this is one of the most crucial and beneficial agreements agreed upon by almost all the nations of the world and it is directed to weed out the poverty and other economic problems from the planet earth.