The UN adopted a treaty to regulate the global trade of conventional weapons in a vote at the General Assembly on Tuesday, local time.

The treaty is aimed at regulating the 70 billion U.S. dollars worth of global trade in conventional arms and related parts, including pistols, rifles, tanks, warships and missile launchers. It is viewed as the most important arms treaty since the Comprehensive Nuclear Test Ban Treaty signed in 1996.

The UN held the Final United Nations Conference for ten days with an aim to achieve a unanimous agreement on the treaty by 193 member countries. However, the conference failed to do so in a vote on March 28th because of opposition from countries including North Korea, Iran and Syria. Tuesday’s General Assembly adopted the treaty with 154 votes in favor, three against and 23 abstentions.