It is aimed at lowering global trade barriers and is the first agreement reached through the WTO that is approved by all its members.
[4] The Bali Package consists of ten separate decisions by the Ministerial Conference, covering four areas as follow:[3][5] The Peterson Institute for International Economics estimate that if the customs measures of the agreement are properly implemented, they could create US$1 trillion worth of global economic activity, add 21 million new jobs and lower the cost of doing international trade by 10–15 percent.
In December 2013, South African trade minister Rob Davies questioned the balance in the agreements regarding the long-term benefits for the least-developed countries.
[12][19] In November 2015, India's Prime Minister Narendra Modi stated that the Bali Package had gone through a slowdown since its signature, urging other countries to implement it in due time.
[20] This statement followed a visit by Barack Obama in India, the Bali Packages being on the US president's agenda.