World Trade Organization (WTO) members have accepted a revised draft for a framework agreement for global trade liberalization, putting global trade talks back on track.
The deal, approved by a consensus of the 147-nation body at its General Council meeting Saturday, opened the way for full negotiations to start in September.
WTO spokesman Keith Rockwell said that the approval followed a breakthrough when some 20 key countries approved a document setting out the framework for a legally binding treaty.
The document commits nations to lowering import duties and reducing government support in the three major areas of international trade - industrial goods, agriculture and service industries. In particular, the document sets out a system that would ensure that high import tariffs are cut by a larger percentage than low ones a key demand of many agricultural exporters.
Led by Vice Agriculture Minister Kim Joo-soo, a high-powered delegation is representing South Korea in the WTO meeting.
South Korea is on edge over the possible full liberalization of its rice market.

The revised deal will set back in motion the long-stalled "round" of trade liberalization treaty talks that were launched by WTO members in Doha, Qatar, in 2001, but delayed by the collapse of the body's ministerial meeting in Cancun, Mexico, last year.