8 more countries ratify UN Arms Trade Treaty
UNITED NATIONS (AP) — Eight more countries have ratified a landmark U.N. treaty regulating the multibillion-dollar global arms trade, meaning 10 more countries are needed before the agreement goes into force.
The eight states gathered at the United Nations to sign the Arms Trade Treaty on Tuesday, marking one year since it opened for signatures. They included Australia, Austria and Burkina Faso. Forty countries have ratified so far.
The treaty is aimed at reducing the global illegal weapons trade, which is estimated at between $60 billion and $85 billion.
The treaty will require countries that ratify it to establish national regulations to control the transfer of conventional arms and components and to regulate arms brokers. It will not control the domestic use of weapons in any country.