India 'more than happy' over WTO ministerial outcome

Commerce and Industry Minister Anand Sharma said India is "more than happy" over the outcome of the World Trade Organisation (WTO) Ministerial Meeting that ended here Friday and would endorse the "Bali Package".

"We are more than happy. It is a great day. It is a historic day," Sharma told reporters, reacting on the outcome of the four-day meeting of the WTO's member-countries here.

Sharma said he would endorse the draft multilateral trade reform package prepared after months of intensive consultations.

"It is a victory for the WTO and for the global community to have arrived at a mature decision," he said.

On the last day of the Bali Ministerial Conference, the WTO secreariat sent revised draft decisions on a package of issues designed to streamline trade, allow developing countries more options for providing food security, boost least developed countries' trade, and help development more generally.

All 159 member-countries attending the 9th WTO Ministerial meet got the drafts called "Bali Package" after marathon and intensive consultations here.

The package must be approved by all the members as the WTO works on a consensus model.