News from 2024
WTO Dispute Panels Established Over EU Citrus Import Measures
By Globe Banner | Jul 26, 2024
South Africa has submitted its second requests for two panels in disputes it initiated concerning European Union regulations governing the importation of citrus fruits. These measures, aimed at controlling the spread of the insect Thaumatotibia leucotreta (False Codling Moth) and the fungus P. citricarpa (citrus black spot), have impacted South African citrus imports. The EU previously declined South Africa's first requests at a DSB meeting on 24 June.
Mauritania's economy shows resilience amid global challenges but faces long-term structural issues
By Globe Banner | Jul 26, 2024
Nouakchott, July 26, 2024 – Despite a slowdown in economic growth in 2023, lower inflation and improved fiscal and external balances have helped strengthen Mauritania's macroeconomic stability. Although growth has moderated, it remains above the global average and that of Sub-Saharan Africa.
Poll by Vapor Technology Association: 'Voters favor commonsense reform over outright bans'
By Globe Banner | Jul 26, 2024
A poll conducted by Kellyanne Conway on proposed e-cigarette bans indicated that "voters favor commonsense reform over outright bans." Conway's statement was shared in a Vapor Technology Association (VTA) press release on July 8.
World Bank releases economic update on Mauritania’s slowdown
By Globe Banner | Jul 26, 2024
NOUAKCHOTT, July 26, 2024 - The World Bank has released the seventh edition of its Economic Update for Mauritania, highlighting a slowdown in economic growth in 2023 despite strengthened macroeconomic stability.
U.S. Embassy in Turkmenistan seeks bids for new vehicle acquisition
By Globe Banner | Jul 26, 2024
The U.S. Embassy in Turkmenistan has announced a solicitation for quotations regarding the procurement of a new vehicle for OBO Ashgabat, identified as PR12613060.
WTO concludes advanced trade policy course for Spanish-speaking officials
By Globe Banner | Jul 26, 2024
The advanced trade policy course for Spanish-speaking officials, organized by the World Trade Organization (WTO), concluded in Geneva on July 26, 2024. Participants engaged in workshops, case studies, and roundtable discussions to learn about current trade issues and WTO discussions, enhancing their expertise in applying trade agreements. The course also provided opportunities to interact with Geneva-based WTO member representatives, experts from other international organizations, and representatives from the WTO Secretariat.
U.S. donates armored vehicles worth $13 million for Uruguay’s UN peacekeeping missions
By Globe Banner | Jul 25, 2024
The United States has donated 14 MAMBA Mark 7 Armored Personnel Carriers (APCs) to the Uruguayan Army, with thirteen delivered and a fourteenth scheduled for arrival in September.
Asia's emerging manufacturers urged to prioritize sustainability
By Globe Banner | Jul 25, 2024
Asian countries may face setbacks in their manufacturing ambitions if they fail to produce more sustainably from the outset and decarbonize swiftly. This warning comes as emerging manufacturing powerhouses in Asia look to emulate China's success while grappling with environmental challenges.
Informal Working Group welcomes Gambia launches online policy tool
By Globe Banner | Jul 25, 2024
The formal participation of the Gambia in the Informal Working Group on Trade and Gender (IWG) officially commenced on July 1, 2024. "This milestone reflects our commitment to promoting gender equality and empowering women," said Kemo Janka of the Gambia's Ministry of Trade, Industry, Regional Integration and Employment. "We recognize that trade is a powerful engine for growth and development. By integrating gender considerations into our trade policies, we can create a more inclusive and equitable economy," he added.
Slovakia welcomes first F-16 jets amid strengthening ties with US
By Globe Banner | Jul 25, 2024
President Pellegrini, Deputy Prime Minister Kalinak, Deputy Prime Minister Kmec, Minister Blanar, General Zmeko, General Stohler, General Doyle, and other distinguished guests gathered to mark the arrival of Slovakia's first F-16 fighter jets.
Slovakia welcomes first F-16 jets amid military modernization efforts
By Globe Banner | Jul 25, 2024
President Pellegrini, Deputy Prime Minister Kalinak, Deputy Prime Minister Kmec, Minister Blanar, General Zmeko, General Stohler, General Doyle, and other distinguished guests gathered for a ceremony marking the arrival of Slovakia's first F-16...
World Bank approves €599.1 million loan for green growth in Romania
By Globe Banner | Jul 25, 2024
The World Bank Group Board of Executive Directors approved a Development Policy Loan (DPL) for Romania amounting to €599.1 million. The Romania Fiscal Management and Green Growth DPL aims to strengthen the country's fiscal framework, promote green and inclusive growth, and stimulate private-sector investment.
WTO Deputy Director-General emphasizes organization's role amid rising geopolitical tensions
By Globe Banner | Jul 25, 2024
DDG Hill highlighted the resilience of international trade in the face of polycrises over the last few years. At the end of 2023, merchandise trade in real terms was 6% above its pre-pandemic peak and up 19% compared to 2015. According to the WTO's recent trade forecast, global goods trade is expected to gradually recover by increasing 2.6% this year after a 1.2% contraction in 2023.
Malawi faces economic hurdles amid drought; urgent reforms needed
By Globe Banner | Jul 25, 2024
LILONGWE, July 25, 2024 – A drought and an incomplete reform agenda are undermining prospects for a rapid economic recovery in Malawi. Economic growth in Malawi fell short of expectations in 2023 and is projected to remain subdued in 2024. While the implementation of planned macroeconomic and structural reforms is expected to boost GDP growth over the medium term, an El Niño-induced drought has worsened the near-term growth outlook. The drought has compounded longstanding macroeconomic imbalances, with large fiscal deficits, balance-of-payments challenges, unsustainable debt,...
Community efforts revive abandoned center near Valle Nuevo National Park
By Globe Banner | Jul 25, 2024
At the border of Valle Nuevo National Park in the Dominican Republic, an abandoned community center known as “Las Golondrinas” stands as a testament to unfulfilled aspirations. Named after the endemic bird species residing in the park, the center was built in 2010 to foster social connections and promote conservation efforts for Valle Nuevo National Park.
World Bank urges urgent reforms for Malawi's economic stability
By Globe Banner | Jul 25, 2024
Malawi's current economic challenges necessitate a blend of immediate response measures and urgent reforms to address longstanding macroeconomic imbalances, including persistent fiscal deficits, balance-of-payments issues, unsustainable debt, and price instability. These factors have significantly impacted the country's economy in recent years, according to the latest World Bank Malawi Economic Monitor (MEM).
WTO releases latest edition of World Tariff Profiles with focus on EV minerals
By Globe Banner | Jul 25, 2024
The World Trade Organization (WTO) has released the latest edition of its World Tariff Profiles, providing comprehensive data on tariffs imposed by member economies. The publication includes summary tables that list average "bound" or maximum tariffs and actual applied tariffs for both agricultural and non-agricultural sectors.
Binance announces cryptocurrency investigation training in Sri Lanka
By Globe Banner | Jul 24, 2024
Binance announced that its Financial Crime Compliance team conducted a comprehensive cryptocurrency investigation training for Sri Lanka’s Financial Intelligence Unit and other key law enforcement agencies. The training session was held at the Central Bank of Sri Lanka's Training Center, and participants included officials from the Financial Intelligence Unit of Sri Lanka (FIU) and Sri Lanka Police departments.
World Bank highlights circular economy potential in Central Asia
By Globe Banner | Jul 24, 2024
The World Bank has released a new report titled "Circular Economy as an Opportunity for Central Asia," highlighting the potential benefits of adopting circular economy principles in the region. The report outlines three action plans focused on construction, agri-food, and urban management sectors, based on case studies from Kazakhstan and Uzbekistan.
US commits $667M; Germany pledges $54M towards pandemic fund goal
By Globe Banner | Jul 24, 2024
The United States has pledged up to $667 million and Germany has committed $54 million to the Pandemic Fund, aiming to raise at least $2 billion to address high demand from low- and middle-income countries. This announcement was made on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Rio de Janeiro.