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Ellard urges swift action on fisheries subsidies at FAO meeting
By Globe Banner | Jul 10, 2024
At a recent meeting of the Food and Agriculture Organization (FAO), Deputy Director-General Angela Ellard emphasized the urgent need to complete critical work on fisheries subsidies. "The sustainability of fisheries is a growing emergency for nations worldwide as the deterioration of fish stocks accelerates unabated. Many millions of people worldwide depend on marine fishing for income, food security, and livelihood. Sustainable management of our ocean resources is therefore essential for our future," DDG Ellard stated.
WTO discusses TRIPS review amid new WIPO treaty adoption
By Globe Banner | Jul 10, 2024
The Chair, Ambassador Sofía Boza of Chile, reported on her consultations regarding the forthcoming review of the implementation of the TRIPS Agreement and responses from delegations to her written questions. She emphasized the need for a member-driven, flexible approach. Delegations highlighted the necessity for clarity, predictability, and compromise in the upcoming review process.
Delegates address urgent need for sustainable fisheries management
By Globe Banner | Jul 10, 2024
On July 10, 2024, delegates gathered for the 36th Session of the FAO Committee on Fisheries to discuss pressing issues related to global fisheries and agriculture. The session underscored the importance of strategic partnerships, particularly between the World Trade Organization (WTO) and the Food and Agriculture Organization (FAO), in addressing these challenges.
WTO Deputy Director-General advocates leveraging organization as insurance policy for green steel investors
By Globe Banner | Jul 10, 2024
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.
WTO announces Kazakhstan's acceptance of the agreement on fisheries subsidies
By Globe Banner | Jul 9, 2024
The World Trade Organization (WTO) announced that Kazakhstan has formally accepted the Agreement on Fisheries Subsidies. Kazakhstan’s instrument of acceptance was presented by Ambassador Asset Irgaliyev to Director-General Ngozi Okonjo-Iweala, bringing the number of WTO members who have accepted the agreement to 78.
WTO announces Montenegro's acceptance of the agreement on fisheries subsidies
By Globe Banner | Jul 9, 2024
The World Trade Organization (WTO) announced that Montenegro has formally accepted the Agreement on Fisheries Subsidies. Montenegro’s instrument of acceptance was presented by Ambassador Slavica Milačić to Director-General Ngozi Okonjo-Iweala, bringing the number of WTO members to have accepted the agreement to 77.
Chair provides takeaways from WTO decision-making retreat
By Globe Banner | Jul 8, 2024
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.
WTO reports mixed trends in global trade amid protectionist pressures
By Globe Banner | Jul 8, 2024
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.
WTO concludes regional trade policy course for Asia-Pacific officials
By Globe Banner | Jul 5, 2024
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.
WTO thematic course highlights importance of global value chains
By Globe Banner | Jul 5, 2024
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...
WTO explores options following stalled farm trade talks
By Globe Banner | Jul 5, 2024
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.
WTO at crossroads: addressing climate change through sustainable trade policies
By Globe Banner | Jul 4, 2024
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."
WTO members renew focus on services trade following ministerial conference
By Globe Banner | Jul 4, 2024
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.
Goods Council reviews future work plans amid new trade concerns
By Globe Banner | Jul 4, 2024
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.
WTO Fish Fund Steering Committee advances efforts towards operationalization
By Globe Banner | Jul 3, 2024
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.
DG Okonjo-Iweala urges revision of food and agriculture rulebook at workshop
By Globe Banner | Jul 3, 2024
"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.
WTO reviews four key regional trade agreements enhancing global economic cooperation
By Globe Banner | Jul 2, 2024
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.
Global goods trade sees modest growth amid price declines
By Globe Banner | Jul 2, 2024
Goods trade posts 1% growth in the first quarter of 2024 after 2023 plateau
Kazakhstan accepts agreement on fisheries subsidies
By Globe Banner | Jul 1, 2024
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."
WTO releases documents on Mozambique's trade policy review
By Globe Banner | Jul 1, 2024
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.