Ministers from 159 countries have reached a deal intended to boost global trade at a meeting in Bali, Indonesia.

The World Trade Organization's first comprehensive agreement involves an effort to simplify the procedures for doing business across borders.

There will also be improved duty-free access for goods sold by the world's poorest countries.

The deal, which could add about $1tn to world trade, gives developing nations more scope to increase farm subsidies.

"For the first time in our history, the WTO has truly delivered," said WTO chief Roberto Azevedo, as the organisation reached its first comprehensive agreement since it was founded in 1995

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The core of this agreement is what is called trade facilitation. This is about reducing the costs and delays involved in international trade. It is often described as "cutting red tape".

Some analysts suggest the benefits could be large. An influential Washington think tank has put the potential gains to the world economy at close to $1tn and 20m million jobs.