A global arms trade treaty regulating the multibillion-dollar business has come into force – a move hailed as “a new chapter” by UN chief Ban Ki-moon.<\/p>\n
He said he hoped the treaty would help prevent the transfer of weapons to “warlords, human rights abusers, terrorists and criminal organisations”.<\/p>\n
The deal also bans arms supplies if this promotes war crimes or genocide.<\/p>\n
So far 60 nations have ratified the accord, but not the US – the world’s top arms exporter.<\/p>\n
Washington signed the agreement in 2013, but now it requires approval by the Senate, where opposition is believed to be strong.<\/p>\n
Other major weapons traders – like China, Russia, India and Pakistan – are yet to put their signatures under the deal.<\/p>\n
‘$85bn business’<\/span><\/strong><\/p>\n In a statement, UN Secretary General Ban Ki-moon said the treaty “marks the opening of a new chapter in our collective efforts to bring responsibility, accountability and transparency to the global arms trade”.<\/p>\n “Ultimately, it attests to our collective determination to reduce human suffering by preventing the transfer or diversion of weapons to areas afflicted by armed conflict and violence.”<\/p>\n Mr Ban also called on all countries to join the agreement “without delay”.<\/p>\n Other leading campaigners for a tighter regulation of the arms trade – such Amnesty International and the Control Arms Coalition – urged world governments to strictly adhere to the treaty’s principles.<\/p>\n The accord has been signed by nearly 130 nations, and five of the world’s top 10 arms producers – Britain, France, Germany, Italy and Spain – have already ratified it.<\/p>\n The accord regulates cross-border transfers of conventional weapons ranging from small firearms to tanks and artillery.<\/p>\n The global business is estimated to generate up to $85bn (\u00a355bn) every year, although some analysts say the figure is even higher.<\/p>\n <\/p>\n Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":" A global arms trade treaty regulating the multibillion-dollar business has come into force – a move hailed as “a new chapter” by UN chief Ban Ki-moon. He said he hoped the treaty would help prevent the transfer of weapons to “warlords, human rights abusers, terrorists and criminal organisations”. The deal also bans arms supplies if […]<\/p>\n","protected":false},"author":5,"featured_media":76966,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[14],"yoast_head":"\n