UNITED NATIONS, Jumada I 21, 1434, Apr 2, 2013, SPA -- The 193-nation U.N. General Assembly overwhelmingly approved on Tuesday the first-ever treaty on global arms trade that seeks to regulate the $70 billion international business in conventional arms ranging from light weapons to battle tanks and warships, according to Reuters. There were 154 votes in favor, 3 against and 23 abstentions. Iran, Syria and North Korea last week prevented a treaty-drafting conference at U.N. headquarters from reaching the required consensus to adopt the treaty. That left delegations that support it no choice but to turn to a General Assembly vote to adopt it. The treaty will be open for signature June 3 and will enter into force 90 days after the 50th signatory ratifies it. Major arms producers China and Russia joined Cuba, Venezuela, Bolivia, Nicaragua and other countries in abstaining. A number of countries, led by India, which also abstained, complained the treaty favors exporting over importing states. The United States, the world's No. 1 arms exporter, voted in favor of the treaty despite opposition from the National Rifle Association, a powerful U.S. pro-gun lobbying group. -- SPA 21:33 LOCAL TIME 18:33 GMT www.spa.gov.sa/1094152