India and the US on Friday resolved their differences over how to tackle food security, clearing the way for the first global trade deal in almost two decades.
A majority of ministers from the 159 members of the World Trade Organisation provisionally agreed the main elements of a deal in Bali after four days of gruelling negotiations. Business groups immediately hailed the news as a boost to the $18tn annual trade in goods.
It aims to ease red tape and set binding standards for customs and the movement of goods through national frontiers. The accord could add $1tn to the world economy according to some estimates.