Global trade ‘rebounds strongly’ in first half of 2017, says WTO

Thursday, 21 September 2017

The World Trade Organization on Thursday upped its forecast for global trade growth in 2017 thanks to stronger than expected demand for merchandise in Asia and North America. A previous projection of 2.4 percent growth for this year has been boosted to 3.6 percent, the organization said in a press release, headlined “WTO upgrades forecast for 2017 as trade rebounds strongly”. “Growth of 3.6 percent would represent a substantial improvement on the lackluster 1.3 percent ...

Boycotting countries invoke WTO’s ‘national security’ clause in Qatar row

Saturday, 1 July 2017

Saudi Arabia, the United Arab Emirates, Bahrain and Egypt informed the World Trade Organization on Friday of the legality of their actions after boycotting Qatar, exercising their sovereign rights guaranteed by international law to protect their national security. Saudi Arabia’s Ministry of Trade and Investment said that this came on the sidelines of a meeting with the WTO Council on Trade in Goods held in Geneva, Switzerland, on the compatibility of the decisions taken by Saudi Arabia, ...

WTO ratifies first multilateral trade deal

Wednesday, 22 February 2017

The first multilateral deal agreed at the World Trade Organization came into force on Wednesday, a step billed as a milestone for the body facing unprecedented threats from a hostile US administration.The Trade Facilitation Agreement (TFA) has now been ratified by 112 of the WTO’s 164 members, crossing the two-thirds threshold needed for activation, the Geneva-based organization confirmed. Under the deal, nations agreed to simplify and standardize customs procedures at borders to make it ...

WTO head says members willing to engage with Iran

Thursday, 17 March 2016

Members of the World Trade Organization are willing to engage with Iran on its accession to the body

UAE maintains top rankings on world trade map

Wednesday, 6 January 2016

UAE maintained its top ranks on the world trade map and came 16th globally in commodity exports, and 20th globally in commodity imports

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