The use of the phrase "illegal arms trade" I believe clearly indicates a United Nations policy. They will sign the treaty to ban small arms worldwide.
Translation......No one is allowed to own guns. No one. You may still go hunting, but first you must pass an extensive background check and pay exorbitant fees to be licensed to borrow a gun from a government agency for use on your hunt and then it must immediately be returned to the agency or you will face the penalty of life in prison.
No, no, no. That is not right. YOU will have to pay for the guns, the govt. won't pay for it. The govt will just tell when, where, how or if you can use it and how much it will cost you. They will of course still keep "safe" for you in their own armory. (See Australia)