Vulnerabilities, resilience in global trading system examined in World Trade Report 2021

The 2021 edition of the WTO’s World Trade Report examines why the interconnected global trading system is both vulnerable and resilient to crises such as the COVID-19 pandemic, how it can help countries to be more economically resilient to shocks, and what can be done to make the system better prepared and more resilient in the future. The flagship publication, launched on 16 November, notes the need to address these issues in light of the prospect of increasingly frequent and more intense natural and man-made disasters.

WTO News and Events

Goods Barometer points to slowing trade growth due to disruptions in critical sectors

Following its sharp rebound from the initial shock of the COVID-19 pandemic, global merchandise trade is slowing, with production and supply disruptions in critical sectors dampening growth alongside cooling import demand, according to the WTO’s latest Goods Trade Barometer issued on 15 November.

WTO News and Events

DDG Ellard highlights recent trade remedy trends, importance of concluding fisheries talks

In her virtual address to the Seoul Trade Remedies Forum 2021 on 15 November, Deputy Director-General Angela Ellard addressed trends in trade remedies in the context of the COVID-19 pandemic and noted an increase in the number of anti-dumping and countervailing duty investigations in 2020. She also stressed the importance of concluding the ongoing WTO negotiations on eliminating harmful subsidies for the fisheries sector. The full text of her remarks is below.

WTO News and Events

DDG Gonzalez highlights benefits of global value chains for LDCs

In remarks delivered to a webinar organized by Duke University on 15 November, Deputy Director-General Anabel Gonzalez highlighted the “double dividend” for least developed countries (LDCs) from participating in global value chains. The dividends include allowing the most productive LDC firms to specialize and expand while gaining managerial and technological best practices from foreign firms. “As a result, LDCs that become part of global value chains can see faster income growth and falling poverty,” she said. Her remarks are below.

WTO News and Events

Chair set to introduce revised agriculture negotiation text

The chair of the WTO’s agriculture negotiations, Ambassador Gloria Abraham Peralta, told heads of delegations at a meeting on 15 November that she plans to circulate a revised draft negotiation text as soon as possible. She will also present her report to the Trade Negotiations Committee on 19 November — just over a week ahead of the 12th Ministerial Conference (MC12). It will not be an easy task but she will try her utmost to balance different negotiation interests at this “critical time” and offer the “most realistic option for MC12”, she said

WTO News and Events

First online Regional Trade Policy Course for Latin America concludes

The WTO’s first online Regional Trade Policy Course (eRTPC) for Latin American members concluded on 12 November. Twenty-three government officials representing ten WTO members attended the 14-week training activity, which began on 9 August. The course covered the WTO agreements and other trade-related matters, including regional trade policy issues.

WTO News and Events