The global trade agreement signed at a ministerial conference of the World Trade Organization (WTO) in Bali, Indonesia represents a positive development for Hungary and Europe, Foreign Minister Janos Martonyi told MTI on Saturday.
Martonyi, who was one of 160 government ministers from around the world to participate in the conference, said that the agreement, aimed at lowering trade barriers and accelerating the passage of goods through customs, was to the benefit of Hungary because it will serve to increase the country's exports, particularly to non-European Union countries.
He added that the importance of the agreement "exceeds its substantive content."
The global trade agreement was the first the WTO had reached since the organization's formation in 1995.
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