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The principles of free trade are given practical application at World Trade Organisation (WTO) meetings, where the governments of the majority of developed and developing countries meet to negotiate multilateral or bilateral agreements. The new license provisions, subject to tax and regulatory approvals, are in-line with China's World Trade Organisation commitments to open its insurance industry to foreign investment. The Federal Government is taking part in negotiations over the next two years in the World Trade Organisation (WTO) which could have these results in Australia and even more devastating impacts in developing countries. |
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