World Trade Organization
Recent News About World Trade Organization
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WTO Deputy Director-General advocates leveraging organization as insurance policy for green steel investors
On July 10, 2024, Deputy Director-General Paugam addressed an audience in Jiangyin, emphasizing the critical role of the World Trade Organization (WTO) in supporting investments in steel decarbonization. "The World Trade Organisation can and must be leveraged as an insurance policy for your investment decisions in steel decarbonisation," he stated.
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Chair provides takeaways from WTO decision-making retreat
The retreat, held outside of WTO headquarters in Geneva at the Heads of Delegation level, involved 122 member participants with the objective of engaging in candid forward-looking discussions.
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WTO reports mixed trends in global trade amid protectionist pressures
Commenting on the findings, Director-General Ngozi Okonjo-Iweala said: “This Trade Monitoring Update underscores the resilience of world trade despite the challenging geopolitical environment. Even in a context of rising protectionist pressures and signs of economic fragmentation, there are governments around the world still taking meaningful steps to liberalize and facilitate trade. This attests to the benefits of trade for people's purchasing power, business competitiveness, and price stability.
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WTO concludes regional trade policy course for Asia-Pacific officials
Participants received extensive training from experts in the WTO and from the Asia-Pacific region, including from SUIBE. The programme aimed to deepen understanding of the WTO's work, its agreements, and their relevance to trade policy in the Asia-Pacific region. The course also sought to strengthen participants' ability to tackle WTO-related issues by improving their awareness of WTO resources, including WTO legal texts.
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WTO thematic course highlights importance of global value chains
The WTO Thematic Course on Trade in Value Added and Global Value Chains concluded in Geneva on July 5, 2024. Opening the program on July 1, WTO Chief Economist Ralph Ossa emphasized the increasing significance of global value chains (GVCs) in international trade of goods and services. He noted that integration into GVCs and upgrading activities along supply chains have become crucial goals for investment, industrial, and trade policies in developing economies. Ossa stressed the need for policymakers to access comprehensive data to monitor changes in trade patterns and supply...
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WTO explores options following stalled farm trade talks
With WTO members unable to agree on how to move ahead in the long-running talks on agriculture at the organization’s 13th Ministerial Conference (MC13) this February in Abu Dhabi, trade officials have recently been informally exploring options for restarting the talks.
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WTO at crossroads: addressing climate change through sustainable trade policies
On July 4, 2024, the Honourable Minister, Excellencies, and distinguished guests gathered to discuss a pivotal moment in the nexus of trade and climate at the World Trade Organization (WTO). Deputy Director-General Paugam addressed the assembly, emphasizing that "we need to accelerate our efforts in leveraging trade policy for sustainable development."
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WTO members renew focus on services trade following ministerial conference
WTO members have expressed a renewed commitment to advancing discussions on services trade, following the mandate from the 13th Ministerial Conference (MC13) held in February 2024. The Services Council, alongside other WTO bodies, has been tasked with addressing WTO reform, short-term challenges related to global and domestic crises, and responses to pandemics.
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Goods Council reviews future work plans amid new trade concerns
The Chair of the Council for Trade in Goods (CTG), Ambassador Clare Kelly of New Zealand, reported on her bilateral conversations with over 20 delegations and group coordinators. These discussions focused on the Council's functioning, recent improvements, and future expectations. According to Ambassador Kelly, members expressed satisfaction with the significant reforms implemented by the CTG over the past two years. Notably, the introduction of digital tools such as the e-agenda and annotated agenda has enhanced access to information and facilitated meeting preparations.
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WTO Fish Fund Steering Committee advances efforts towards operationalization
The Steering Committee of the WTO Fish Fund has made significant strides towards operationalizing the Fund, according to Deputy Director-General Angela Ellard. Speaking at a recent meeting, Ellard highlighted the Committee's progress since January, emphasizing their dedication to providing support by the time of the Agreement's entry into force.
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DG Okonjo-Iweala urges revision of food and agriculture rulebook at workshop
"There is an urgent need to ensure that trade in food and agriculture contributes to ensuring everyone can access sufficient, safe, and nutritious food at all times," DG Okonjo-Iweala said in her opening remarks to participants.
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WTO reviews four key regional trade agreements enhancing global economic cooperation
The Committee on Regional Trade Agreements of the World Trade Organization (WTO) recently considered four significant regional trade agreements. These agreements, involving multiple countries, aim to enhance economic cooperation and liberalize trade in goods and services.
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Global goods trade sees modest growth amid price declines
Goods trade posts 1% growth in the first quarter of 2024 after 2023 plateau
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Kazakhstan accepts agreement on fisheries subsidies
Kazakhstan has formally accepted the Agreement on Fisheries Subsidies, as announced on July 1, 2024. Director-General Okonjo-Iweala commented, “I welcome Kazakhstan's Acceptance of the Agreement on Fisheries Subsidies. This action demonstrates Kazakhstan's commitment, even as a landlocked nation, to responsible fisheries resource management. It underscores the need for global cooperation in safeguarding the shared marine ecosystem upon which all of us depend. I commend Kazakhstan for taking this step, which brings us closer to this Agreement's entry into force."
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WTO releases documents on Mozambique's trade policy review
The World Trade Organization (WTO) has made available several documents related to the Trade Policy Review of Mozambique, conducted on July 1, 2024. The review includes a detailed Secretariat report and a government report.
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Working group discusses future topics for small business initiatives
The Coordinator of the Group, Ambassador Matthew Wilson (Barbados), highlighted the results of the Small Business Champions initiative, which were announced during last week's Aid for Trade Global Review. One of the winners is the Latin American and Caribbean Network of Fairtrade Small Producers and Workers of El Salvador (CLAC), a network representing 1,000 Fairtrade-certified organizations in 24 economies in Latin America and the Caribbean. The winning project will survey existing products in Latin America that can benefit indigenous producers, provide training and...
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WTO members advance sixth review of SPS agreement amid rising trade concerns
Every four years, WTO members review their implementation of the SPS Agreement. The proposed process for the Sixth Review was discussed and adopted by members at an SPS Committee meeting in November 2023.
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WTO signs MoU with Afreximbank for enhanced cooperation
The Memorandum of Understanding (MoU) was signed by World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala and African Export-Import Bank (Afreximbank) President Benedict Okey Oramah during the 9th Global Review of Aid for Trade, held from June 26-28 in Geneva. The agreement seeks to enhance cooperation between the two entities in food, trade, and fisheries sectors in Africa.
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Finland commits EUR 700K to strengthen trade capacities of least developed countries
Finland has committed EUR 700,000 to the Enhanced Integrated Framework (EIF) Interim Facility, a mechanism designed to bridge the gap between the conclusion of Phase Two of the EIF and the establishment of a new multilateral support system for Least Developed Countries (LDCs). This interim facility aims to ensure continued assistance while discussions on a future support mechanism are underway within a taskforce at the World Trade Organization (WTO).
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EIF reports progress on aiding disadvantaged nations
Also attending the meeting were Djibouti's Minister of Commerce and Tourism, Mohamed Warsama Dirieh, Finland's WTO Ambassador Heidi Schroderus-Fox, who also chairs the EIF Steering Committee, Togo's WTO Ambassador and chair of the EIF Board, Kokou Yackoley Johnson, Djibouti's WTO Ambassador and Coordinator of the WTO LDC Group, Kadra Ahmed Hassan, and the EIF Executive Director Ratnakar Adhikari.