Latest News
Working group discusses future topics for small business initiatives
By Globe Banner | Jul 1, 2024
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...
WTO members advance sixth review of SPS agreement amid rising trade concerns
By Globe Banner | Jun 28, 2024
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.
WTO signs MoU with Afreximbank for enhanced cooperation
By Globe Banner | Jun 28, 2024
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.
Finland commits EUR 700K to strengthen trade capacities of least developed countries
By Globe Banner | Jun 28, 2024
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).
EIF reports progress on aiding disadvantaged nations
By Globe Banner | Jun 28, 2024
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.
WTO concludes advanced course on economic analysis of trade policy
By Globe Banner | Jun 28, 2024
Participants received training on various aspects of trade data analysis, learning how to calculate trade flows and trade policy indicators, and conduct trade policy analysis and simulation. Hands-on exercises formed a significant part of the program, enabling participants to use statistical software to construct tariff profiles, build datasets, and conduct trade policy analysis. The objective was to deepen the participants' understanding of the impact of trade policy, with the ultimate aim of supporting more effective participation in trade negotiations.
Aid-for-Trade vital in seizing clean-energy transition opportunities says WTO
By Globe Banner | Jun 28, 2024
The report cites that clean energy adoption is surging, with energy sources such as wind, solar, hydropower, hydrogen, and nuclear power now generating nearly 40% of global electricity. This share is expected to rise at an accelerated pace as the cost of these technologies falls and economies ramp up action to meet their net-zero greenhouse gas emission targets. The report notes that this transition to clean energy presents an opportunity for developing economies and least-developed countries (LDCs) to expand trade volumes and achieve export diversification objectives.
WTO concludes Aid for Trade Global Review with focus on evolving needs
By Globe Banner | Jun 28, 2024
The Aid for Trade Global Review concluded on June 28, 2024, with a commitment to continue adapting to the changing needs of developing economies and least-developed countries (LDCs). The event focused on three main themes: food security, digital connectivity, and integrating trade into development agendas.
WTO reviews achievements at Global Review of Aid for Trade amid challenging times
By Globe Banner | Jun 27, 2024
Minister Symmonds, Secretary-General Cormann, Excellencies, Ladies and Gentlemen,
Food security issues dominate discussions at Aid for Trade event
By Globe Banner | Jun 27, 2024
Drawing attention to how political conflicts, value chain disruptions, and mounting inflation are compromising food security in developing economies, a session entitled “Strengthening food security through trade” explored how the international trade community can act to enhance access to safe, nutritious, and affordable food. Special emphasis was placed on helping small farmers gain more from trade by boosting their productivity and amplifying their voices in international fora. The importance of multi-stakeholder cooperation was also highlighted, notably public-private...
Global push for sustainable fisheries spotlighted at Aid for Trade Global Review
By Globe Banner | Jun 27, 2024
The Aid for Trade Global Review recently highlighted the global push for sustainable fisheries, focusing on the WTO Agreement on Fisheries Subsidies. This agreement aims to prohibit harmful fisheries subsidies and promote sustainability.
WTO panel discusses leveraging opportunities from growing global digital economy
By Globe Banner | Jun 27, 2024
The challenges and opportunities for developing economies, particularly African countries, in exploiting their digital trade potential were discussed at a high-level panel. Speakers emphasized the need for improved digital connectivity, a supportive regulatory environment, and trade capacity building.
WTO committee adopts key report on implementing Sanitary Phytosanitary Measures Agreement
By Globe Banner | Jun 26, 2024
The MC12 SPS Declaration instructed the SPS Committee to launch a Work Programme to identify challenges in the implementation of the SPS Agreement, the mechanisms available to address them, and the impact of emerging challenges on its application. The Committee established five thematic groups to undertake this work.
WTO’s aid initiative boosts global trade with $648B since inception
By Globe Banner | Jun 26, 2024
The WTO-led Aid for Trade initiative has contributed US$ 648 billion since 2006 to strengthen the export potential of developing economies and least-developed countries (LDCs). The impact of the initiative in improving these economies' capacity to trade is revealed in a new publication — “Aid for Trade at a Glance 2024” — launched by the WTO and the Organisation for Economic Co-operation and Development (OECD) on June 26.
Challenges faced by least developed countries discussed at high-level session
By Globe Banner | Jun 26, 2024
Warsama Dirieh Mohamed, Minister of Trade and Tourism of Djibouti, emphasized the potential of Least Developed Countries (LDCs) in global trade during a high-level session. "It is undeniable that LDCs have significant potential in all fields to cement their development. All the same, despite the natural wealth in LDCs, we can observe a sad reality which is illustrated by the following data: 14% of the global population, 1.3% of global GDP, and less than 1% of goods exports," he stated.
Comoros’ and Timor-Leste’s strategies discussed at Aid for Trade session
By Globe Banner | Jun 26, 2024
WTO members agreed at the 13th Ministerial Conference (MC13) in Abu Dhabi earlier this year to the accessions of Comoros and Timor-Leste, following the finalization of years-long negotiations. Since MC13, both LDCs have prepared their post-accession implementation strategies, in parallel with the ratification of their respective Protocols of Accession and the 2022 Fisheries Subsidies Agreement. Their membership will become effective 30 days after the deposit of their instruments of acceptance with the WTO Secretariat.
WTO-World Bank unveil joint work programme on trade in services
By Globe Banner | Jun 26, 2024
The joint work programme aims to address the challenges developing economies face in unlocking the benefits of services trade and harnessing the sector's export potential.
WTO emphasizes collaboration for growth of African cotton industry
By Globe Banner | Jun 26, 2024
DG Okonjo-Iweala commended the studies on cotton value chain development in the C4+ (Benin, Burkina Faso, Chad, Mali, and Côte d'Ivoire) conducted by the International Trade Centre (ITC), the United Nations Industrial Development Organization (UNIDO), and Gherzi Textile Organization. She thanked FIFA and the African Export-Import Bank (Afreximbank) for their sponsorship of the studies. “The studies demonstrate the WTO has a big role to play in continuing to bring this partnership together,” she said.
Trade aid crucial for developing economies' growth says DG Okonjo-Iweala
By Globe Banner | Jun 26, 2024
Global leaders convened to discuss the impact of the Aid for Trade initiative, which has generated USD 648 billion in investment since its inception in 2006. The session focused on strategies to enhance trade opportunities for lower-income countries.
Geneva Week highlights recent developments in international trade
By Globe Banner | Jun 25, 2024
Participants will engage with high-level officials, government representatives based in Geneva, and experts from the WTO Secretariat and the Advisory Centre on World Trade Organization Law. They will also have the opportunity to hear about activities carried out by the Standards and Trade Development Facility.