Posts Tagged WTO
16 April 2012 At a meeting of the sub-committee on least-developed countries (LDCs), a subsidiary body to the Committee on Trade and Development, four developing WTO members reported their commitment to opening their markets for products from least-developed countries. The commitment of the four members – India, China, Chinese Taipei and Korea – to open market reflect the increased efforts to improve market access conditions for imports from the poorest countries. The four members agree to implement duty-free and quota-free market access for products originating from least-developed countries (LDCs). The current list of LDCs (designated by the United Nations) includes 48 countries, 31 of which to date have become WTO members and comprise about 12 percent of the world’s population, but account for less than 2 per cent of world GDP and about 1 percent of global trade in products. Kindly find more information about the WTO work programme for LDCs on the WTO’s webpage.
15 March 2012 Organisation for Economic Co-operation and Development (OECD) and World Trade Organisation (WTO) have launched a joint initiative to measure trade in the value that is added by a country – through labour compensation, taxes and profits – in the production of any good or service. The two organisations will develop a new statistical model since the international fragmentation of production is blurring the concept of country of origin. Please refer to the next link for more information: Measuring Trade in Value-Added.
The WTO launched on March 14th a new publically available database on non-reciprocal preferential schemes. The Transparency Mechanism for Preferential Trade Arrangements (PTAs) is a WTO agreement which aims to increase members’ and the public’s understanding about the legal nature, history and background of each preferential trade arrangement, the range of products covered and the types of preferential treatment offered. The Preferential Trade Arrangements (PTAs) are understood to mean non-reciprocal preferential schemes and they are distinct from Regional Trade Agreements (RTAs), which are covered by the Transparency Mechanism for RTAs. The information on RTAs notified to the WTO is available in the RTA Database and the information on PTAs notified to the WTO is available in the PTA Database. For further details please consult the user guide and/or check the WTO’s webpage.
The WTO’s Ministers welcomed Russia as a new member to the Organization and named this accession a historic moment. The Working Party on the Accession of the Russian Federation was established on 16 June 1993 and was the accession package was adopted on 10 November 2011. The membership will become effective only after being ratified by the Russian Parliament (Duma) and it may do this sometime in the middle of 2012. The World Trade Organization (WTO) deals with the global rules of trade between nations in order that trade flows as smoothly and freely as possible. Headquartered in Geneva in Switzerland, the WTO is grouping some 150 countries.
On 10 January 2012, the five-agency programme adopt a new medium-term strategy for 2012-16 in regard to help developing countries meet international standards on food safety and animal and plant health. The Standards and Trade Development Facility (STDF) was set up by the UN Food and Agriculture Organization (FAO), World Organization for Animal Health (OIE), World Bank, World Health Organization (WHO) and World Trade Organization (WTO), and is run by the five partners together with donor countries and representatives of developing countries. Since it was set up in 2002, the STDF has supported 47 projects and 48 project-preparation grants benefiting 54 developing countries. The current voluntary donors countries are Canada, Denmark, EU, Finland, Germany, Ireland, Japan, Netherlands, Norway, Sweden, Switzerland, Chinese Taipei, US.