15 Dec 2023
Latest news
Dear maria CHADZIDAKIS VAVOURANAKIS,
Below are the news items published today on the WTO public website which match with your news preferences.
NEWS ITEM
MC13 Chair briefs members on ministerial preparations; members approve budget increase
At a 13-15 December meeting of the WTO’s General Council, members heard from the Chair of the 13th Ministerial Conference (MC13), H.E. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, on preparations for MC13, which will take place in Abu Dhabi in February 2024. Members also approved a budget increase for the WTO Secretariat for the 2024/2025 biennium following 12 years of zero nominal growth.
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NEWS ITEM
Digital trade is key to boosting growth in developing economies
The transformative effects of digital trade on developing economies are explored in a report just published by the WTO in cooperation with the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the United Nations Conference on Trade and Development (UNCTAD) and the World Bank. “Digital Trade for Development” also emphasizes the pivotal role of international cooperation in helping developing economies seize the opportunities of digital trade and tackle the related challenges.
Blog ⟶
NEWS ITEM
New WTO information note reveals changing pattern in Africa’s trade in intermediate goods
The WTO on 15 December released an information note on Africa’s trade in intermediate goods (IGs), providing a snapshot of the region’s growing participation in supply chains. The latest data covering 2010 to 2021 indicates an expansion in Africa’s exports and imports of intermediate goods while also pointing to a high concentration of exports to a few economies and a comparatively narrow range of products. The note also reveals a relatively small share of intra-African transactions.
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NEWS ITEM
WTO members congratulate Bhutan on graduating from LDC status
At a meeting of the Sub-Committee on Least Developed Countries (LDCs) on 13 December, WTO members welcomed Bhutan’s commitment to revitalizing its negotiations on joining the WTO and congratulated the country on its graduation from LDC status. The Secretariat of the United Nations Committee for Development Policy updated WTO members on the LDC graduation process and the support measures available to graduating LDCs.
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NEWS ITEM
The Gambia, UK formally accept Agreement on Fisheries Subsidies; UK pledges to the Fund
The Gambia and the United Kingdom deposited their instruments of acceptance of the Agreement on Fisheries Subsidies on 13 December, advancing the tally of formal acceptances to the halfway mark required for entry into force. Seyaka Sonko, Minister of Interior of the Gambia, and Andrew Mitchell, Minister of State (Development and Africa) of the UK presented the instruments of acceptance to Director-General Ngozi Okonjo-Iweala. The UK also announced its pledge to donate up to GBP 1 million (approximately CHF 1.11 million) to the WTO Fisheries Funding Mechanism.
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NEWS ITEM
WTO, IFC co-publication highlights need to boost trade finance in Mekong region
Director-General Ngozi Okonjo-Iweala and International Finance Corporation Managing Director Makhtar Diop launched at the WTO on 13 December a co-publication titled “Trade Finance in the Mekong Region” to underline how an expansion in trade finance could further increase the region’s participation in world trade. Presenting survey results from banks in the Mekong-3 countries — Cambodia, Lao People’s Democratic Republic and Viet Nam — the publication reveals the challenges faced by businesses in accessing credit and proposes strategies for improving local producers’ access to finance and integration into global supply chains.
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NEWS ITEM
WTO members discuss proposals on work programme on e-commerce
In their last dedicated discussion of the year on the Work Programme on E-commerce on 8 December, WTO members discussed text proposals for a ministerial decision to be considered at the 13th Ministerial Conference (MC13) in February 2024. The proposals address progress under the Work Programme, the moratorium on the imposition of customs duties on electronic transmissions and the development dimension of e-commerce.
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Chair cites “clear desire” of ministers to deliver outcomes at MC13
Senior trade officials attending a virtual “mini-ministerial” on 11 December have expressed a “clear desire” to advance work on development issues as well as on e-commerce, with the aim of achieving concrete outcomes at the WTO’s 13th Ministerial Conference (MC13) next February in Abu Dhabi. This was the conclusion of Dr Thani bin Ahmed Al Zeyoudi, the United Arab Emirates’ Minister of State for Foreign Trade and MC13 Chair, at the end of the virtual gathering.
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NEWS ITEM
DDG Paugam: WTO rules help to combat illegal food trade
Speaking at a virtual agriculture symposium titled “Illicit Trade in Food and Food Fraud” on 11 December, Deputy Director-General Jean-Marie Paugam emphasized that the WTO rulebook brings a legal framework to international food trade, helping to combat illicit trade. He said: “By definition, our DNA is legal trade. Strengthening the WTO is the first way to combat illicit trade.”
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NEWS ITEM
Trade Policy Review: Chile
The sixth review of the trade policies and practices of Chile takes place on 11 and 13 December 2023. The basis for the review is a report by the WTO Secretariat and a report by the Government of Chile.
TPR documents ⟶
NEWS ITEM
Members call for further intensive work to deliver on fisheries subsidies by MC13
At the close of the final Fish Week of the year held on 4-8 December, WTO members affirmed their commitment to the fisheries subsidies negotiations and remained hopeful to successfully conclude the talks by the 13th Ministerial Conference in February despite not being in a position to do so by December. Director-General Ngozi Okonjo-Iweala and Ambassador Einar Gunnarsson of Iceland, the chair of the fisheries subsidies negotiations, lauded members’ constructive engagement on new disciplines on subsidies contributing to overcapacity and overfishing.
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