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The cost of doing trade is expected to drop by 10-15 percent (Photo: dawvon)

Analysis

World trade deal expected to boost EU nations

Hailed as "historic" by British Prime Minister David Cameron, the surprise world trade deal agreed over the weekend in Bali aims to lower the cost of exports by simplifying customs procedures and reducing import duties.

It also seeks to give developing countries greater market access to western economies and allows them some breathing space on food subsidies.

The deal brought tears to the eyes of the World Trade Organisation's new head, Roberto Azevedo, who managed to broker an a...

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