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Global experts gather in Kathmandu to explore social protection's role in reducing poverty, building resilience, and investing in human capital.

Key role of WTO rules discussed at Public Forum

Nigeria's WTO Ambassador, Adamu Mohammed Abdulhamid, stated that Africa could significantly benefit from the WTO agreements' special and differential treatment provisions to enhance its digital trade capabilities. He emphasized that tailored technical assistance and capacity-building programs could help African governments improve their skillsets and reduce the gap in digital connectivity and infrastructure with the rest of the world. Ambassador Abdulhamid noted that increased technology transfer would make Africa's digitalization efforts more effective.

Steel industry leaders emphasize policy support for achieving green goals

The executives expressed confidence that the steel industry is on the right path towards achieving their carbon reduction goals but underlined the importance of having supportive policies in place, including on trade and common emissions measurement methodologies.

World Bank highlights need for investment in Liberia's energy sector

MONROVIA, September 12, 2024 - The World Bank released the fifth edition of its annual Liberia Economic Update today, titled "Powering Growth with Reliable, Affordable, and Sustainable Energy Access." The report provides a detailed analysis of recent economic developments in Liberia, emphasizing the critical role of reliable energy in promoting sustainable growth.

BusinessEurope urges proactive EU trade agenda in new legislative cycle

In a new paper published today, BusinessEurope has emphasized the need for the European Union to use the upcoming legislative cycle to revitalize its trade agenda. BusinessEurope Director General Markus J. Beyrer stated, “During the next institutional cycle, we call on EU leaders to adopt a trade agenda that is proactive, creative and forward-looking. To rebalance the focus placed in recent years on its defensive toolkit, the EU must develop an ambitious diversification strategy."

Harvard professor Jason Furman urges continued embrace of global trade

Jason Furman, Professor of Economic Policy at Harvard University, emphasized that globalization over the past 25 years has significantly improved human welfare. Despite a global population increase of two billion, more than one billion people have been lifted out of extreme poverty, leading to a 70% reduction in poverty worldwide. Key human development indicators like life expectancy, maternal mortality, and literacy have also seen remarkable gains. Mr. Furman attributed these improvements to economic globalization, including the movement of goods, services, capital, people,...

World Bank approves $70 million grant for climate resilience in Central African Republic

The World Bank has approved a US$70 million grant from the International Development Association (IDA) to enhance access to basic infrastructure and services and build climate resilience in cities across the Central African Republic.

WTO launches WEIDE fund for women exporters with $5 million UAE donation

DG Okonjo-Iweala announced the launch of the pilot phase for the Women Exporters in the Digital Economy (WEIDE) Fund, marking a significant step towards gender equality in trade and economic opportunities. “It brings me great joy today to launch the pilot phase of applications for the Women Exporters in the Digital Economy Fund. The WEIDE Fund represents a pivotal step forward in our collective journey towards gender equality in trade and economic opportunities,” she stated.

International bodies call for more inclusion of persons with disabilities in global trade

With approximately 15% of the global population living with disabilities, and 80% of them in developing economies, there is a growing demand for international trade policies that address their specific challenges and opportunities.

China initiates WTO dispute over Canadian surtax measures

China has initiated a dispute complaint against Canadian surtax measures, claiming they appear to be inconsistent with the most favoured nation principle enshrined in the General Agreement on Tariffs and Trade (GATT) 1994 and Canada's GATT schedule of customs duty concessions and commitments.

Croatia enhances mechanisms against poverty with EU and World Bank support

ZAGREB, September 11, 2024 – The Government of Croatia is committed to reducing the number of people at risk of poverty or social exclusion. To this end, the Ministry of Labor, Pension System, Family, and Social Policy (MLPSFSP) initiated a project to build a modern comprehensive policy framework for combating poverty and social exclusion, based on an evidence-based diagnostic at the sub-national level.

WTO partners with World Bank on new Trade in Services for Development Initiative

The World Trade Organization (WTO) and the World Bank launched the "Trade in Services for Development Initiative" at a Public Forum on September 11, 2024. The event featured prominent figures including WTO Director-General Ngozi Okonjo-Iweala, Indermit Gill, Chief Economist and Vice President of the World Bank, WTO Deputy Director-General Johanna Hill, Professor Richard Baldwin from the International Institute for Management Development in Lausanne, Switzerland, and Sumanta Chaudhuri from the Confederation of Indian Industry.

Balancing technological advancement with job security in Central America

Technological progress holds the potential to significantly disrupt labor markets while also creating new job opportunities in Central America and the Dominican Republic. Advances in agricultural and industrial machinery, computers, and artificial intelligence (AI) have enabled machines to undertake many tasks previously performed by humans, posing a risk to jobs.

Croatia enhances efforts against poverty with new data-driven policy framework

The Government of Croatia is committed to reducing the number of people at risk of poverty or social exclusion. To this end, the Ministry of Labor, Pension System, Family, and Social Policy (MLPSFSP) initiated a project to build a modern comprehensive policy framework for combating poverty and social exclusion, founded on an evidence-based diagnostic at the sub-national level.

Bodum CEO: Partnership with Starbucks based on 'mutual respect' from former CEO

Jorgen Bodum, CEO of Bodum USA, said his company's relationship with Starbucks was based on the "mutual respect" between himself and former Starbucks CEO Howard Schultz, which degraded when Schultz stepped down.

World bank president outlines new vision during Sydney speech

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U.S.-Lithuania exchange program invites applications from high school students

The Embassy of the United States in Lithuania, in collaboration with American Councils for International Education, is inviting Lithuanian high school students to apply for the Future Leaders Exchange (FLEX) program.

Verma discusses Ukraine support with Slovak leaders in Bratislava

Deputy Secretary of State for Management and Resources Richard R. Verma held meetings in Bratislava, Slovakia, with Slovak Deputy Prime Minister Peter Kmec.

Pacific Island leaders urge robust replenishment of World Bank's International Development Association

Leaders from Pacific Island countries have called for a robust 21st replenishment of the World Bank’s International Development Association (IDA21), echoing similar appeals from African Heads of State who agreed in April on a bold transformation agenda with IDA as a cornerstone. Hosted by the Pacific Islands Forum Secretariat, leaders and representatives from 11 countries met with World Bank Group President Ajay Banga last week and reaffirmed IDA’s critical role in supporting Pacific islands to boost development and climate resilience.

WTO Public Forum 2024 highlights inclusive growth through enhanced global cooperation