The World Trade Organization reached its first ever trade reform deal on Saturday.<br/> <br />It was met with the roar of approval from nearly 160 ministers gathered on the Indonesian island of Bali.<br/> <br />(SOUNDBITE) (English) INDONESIAN TRADE MINISTER GITA WIRJAWAN SAYING:<br/> <br />"Bali package, it is so agreed."<br/> <br />They came to work out a make-or-break agreement that could add $1 trillion to the global economy.<br/> <br />WTO Director General Roberto Azevedo.<br/> <br />(SOUNDBITE) (English) WORLD TRADE ORGANIZATION DIRECTOR-GENERAL ROBERTO AZEVEDO SAYING:<br/> <br />"We have achieved something very significant. People all around the world will benefit from the package we delivered here today."<br/> <br />The agreement lowers trade barriers and slashes red tape at customs around the world.<br/> <br />But it also rescues the WTO from the brink of failure, after 12 years of fruitless negotiations.<br/> <br />(SOUNDBITE) (English) WORLD TRADE ORGANIZATION DIRECTOR-GENERAL ROBERTO AZEVEDO SAYING:<br/> <br />"For the first ti
