WTO News
WTO scales back its trade forecast to 5.8% as downside risks build
WTO economists announced today that they are revising their 2011 trade forecast to 5.8%, down from their earlier conservative estimate of 6.5%, since trade has grown more slowly than expected in recent months and the outlook for the global economy is increasingly uncertain. Director-General Pascal Lamy said: “The multilateral trading system has been instrumental in maintaining trade openness during...
Read More...WTO to organize seminar on exchange rates and trade
The Working Group on Trade, Debt and Finance will organize in Geneva a seminar at the end of the first quarter of 2012 on the economics of the relationship between exchange rates and trade – especially the impact of the one on the other, said Working Group Chair Martin Glass of Hong Kong, China. He said that the issue of existing WTO rules and currencies will not be taken up at this seminar. The...
Read More...WTO launches discussion forum for World Trade Report 2012
The WTO launched on 18 November 2011 a new discussion forum devoted to next year’s World Trade Report. The theme of the report is “Looking beyond international cooperation on tariffs”. The aim of the discussion forum, which is hosted on the WTO website, is to encourage debate on the topic of the 2012 World Trade Report. In the months leading up to publication of the report in July 2012, short...
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The US Congress approved on 12 Oct. 2011free trade agreements with South Korea, Colombia and Panama, ending a four-year drought in the forming of new trade partnerships and giving the White House and Capitol Hill the opportunity to show they can work together to stimulate the economy and put people back to work. In rapid succession, the House of Representatives and Senate voted on the three trade...
Read More...The General Council paved the way for Vanuatu’s membership in the WTO by approving its accession package. Vanuatu would have to ratify the deal by 31 December 2011 and would become WTO’s 154th member 30 days after the ratification. “With Vanuatu the WTO receives a least-developed country into the family. Its membership will strengthen the multilateral trading system and provide this country...
Read More...At the eleventh meeting of the Working Party on Serbia’s accession, Members supported an early accession of Serbia and welcomed its progress in the implementation of new legislation to comply with WTO rules. Members reviewed the draft Working Party report (revised version 5) containing the reforms undertaken by Serbia to its trade regime. They requested clarifications on issues related to policies...
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