Trade is sometimes thought of as an economic activity that only favours the large corporations. While we may disagree, the reality of international trading is often harder and more expensive for Micro, Small and Medium Enterprises (MSMEs). The smaller the business, the bigger the barriers can seem.
This is a challenging time for global trade. According to the current World Trade Organization (WTO) new trade forecasts, global goods trade is expected to grow by 2.8%, making 2016 the fifth consecutive year of sub 3% growth. The gross domestic product (GDP) is still the most critical variable in the trade expansion equation, and as long as GDP growth remains low, trade numbers are likely to follow a similar trend.
There is a misconception, by some, that the World Trade Organization (WTO) is a barrier to regional integration. It is one of a number of misconceptions that do not match up with the facts like the perception that the WTO is a rich man's club. Today the WTO has 162 members and rising at all stages of development. 43 of those members are African countries and rising. The organization now covers around 98% of world trade. It is a truly global organization, one where everybody has an equal say. And it is an organization which supports regional integration in Africa. Indeed, I would say that the need for better integration across the continent is indisputable.
In 2015 the international community took some huge strides forward on a number of vital issues.
There was the agreement on the United Nations new Sustainable Development Goals.
World Trade Organization (WTO) members concluded the Tenth Ministerial Conference in Nairobi on 19 December by securing an historic agreement on a series of trade initiatives. The “Nairobi Package” pays fitting tribute to the Conference host, Kenya, by delivering commitments that will benefit in particular the organization’s poorest members.
The Ministerial Conference of the World Trade Organization (WTO) is now just a few days away, from 15 to 18 December in Nairobi.
Trade and the multilateral trading system can help in creating a more favourable global environment for public health policies and the implementation of a balanced and effective intellectual property system.
The World Trade Organisation (WTO) is a relative newcomer on the international stage. This year we are marking our 20th anniversary.
The latest report by the World Trade Organisation (WTO) on G20 trade measures shows a slight deceleration in the application of new trade-restrictive measures by G20 economies, with the average number of such measures applied per month lower than at any time since 2013.
Up to 80 percent of global trade is supported by some form of financing or credit insurance. Yet in many countries there is a lack of capacity in the financial sector to support trade, and also a lack of access to the international financial system. Therefore the ability of these countries to use simple instruments such as letters of credit is limited.
Regional trade agreements have grown very rapidly in recent years, and today the World Trade Organisation (WTO) has been notified that 253 are in force.
In the 1960s, there were high hopes for the development of the newly-independent sub-Saharan African countries but these hopes were quickly dashed following a series of shocks which began in the mid-70s, with the first oil price spikes, followed by a severe decline in growth and increase in poverty in the 80s and early 90s.
Although some people don’t see the connection, the global trading system is aimed at creating some of the essential conditions needed to improve children’s lives and their prospects in the future.
The Bali Package, approved on Dec. 7 by the World Trade Organisation (WTO) members, was a historic achievement, representing a significant boost for trade, growth and development around the world. But its true significance lies in what it allows us to do next to conclude the Doha Development Agenda.
At the Ninth Ministerial Conference of the World Trade Organisation (WTO), held in Bali Dec. 3-7, a series of decisions was adopted aimed at streamlining trade, allowing developing countries more options for providing food security, boosting least developed countries' trade, and bolstering development in general.