The World Trade Organization was on the verge of missing a deadline to implement a part of a landmark agreement reached last year in Bali, jeopardizing the first major accord in the group’s 19-year history.
Negotiators working for a Trade Facilitation Agreement at WTO headquarters in Geneva today are near a self-imposed midnight deadline to advance the agreement.
“My understanding is that the remaining gaps are unbridgeable with the time that we have,” WTO Director General Roberto Azevedo, said in a statement. “We tried everything we could. But it has not proved possible.”