The World Trade Organization touted new evidence of how "more inclusive [economic] integration" can benefit the friction points of security interests, inclusiveness and environmental policies in the face of early signs of global trade fragmentation. In its World Trade Report 2023, released Sept. 12, the WTO focuses on globalization and how, despite current challenges, international trade is thriving and stands as a solution to many global issues.
New Zealand became the 17th member country to formally accept the World Trade Organization's Agreement on Fisheries and Subsidies, the WTO announced. The deal would impose rules to crack down on subsidies for illegal, unreported and unregulated fishing. New Zealand's announcement means nearly 40% of member states have ratified the deal, which requires acceptance by two-thirds of WTO members to enter into force.
The World Trade Organization opened its process for nongovernmental organizations seeking accreditation for the 13th Ministerial Conference, to be held in Abu Dhabi Feb. 26-29. Accreditation requests should be submitted no later than Nov. 24, the WTO said. "Individual online registration" is available only for the NGOs that have been accredited, while individuals seeking to register should do so no later than Jan. 26, the WTO said.
The World Trade Organization released the agenda for its Sept. 12-15 public forum, which will include 131 sessions organized by WTO member governments, businesses, nongovernmental organizations and academic institutions. The forum will look into how "trade and the WTO can help create a greener and more sustainable future," including how services, digitalization and inclusive trade policies can bolster this goal. Some events will be livestreamed.
Researchers at the Center for Strategic and International Studies expect the U.S. will get "a taste of its own medicine” when China appeals its loss over Section 232 retaliatory tariffs at the World Trade Organization, adding that China likely won't have to drop the tariffs since there is no appellate body to take that appeal.
A World Trade Organization dispute panel issued a report Aug. 24 concluding the panel's work following China and Australia's agreement regarding China's antidumping and countervailing duties on Australian barley.
U.S. Trade Representative Katherine Tai, speaking Aug. 24 to other G-20 trade ministers, said the U.S. wants to reform the World Trade Organization by improving compliance with -- and enforcement of -- WTO members' commitments, "restoring efficacy to the negotiating arm; ... equipping the Membership to address unfair practices and global market distortions, and putting the organization on the footing to promote trade policies that build resilience and address current global challenges."
The World Trade Organization will hold a public forum on Sept. 12 with the goal of exploring how "digitalization and inclusive trade policies can support" a "greener and more sustainable future," the WTO announced. The event will feature a lecture by former British Prime Minister Gordon Brown, the WTO World Trade Report for 2023, "high-level plenaries," working sessions and networking opportunities. The plenary sessions will focus on "how trade can keep the ambition of the Paris Agreement of limiting global warming to 1.5 degrees alive" and feature the topics of "fostering sustainable development through trade, the decarbonization of the transport sector, inclusive trade policies, and how technology can boost green innovation," the WTO said.
U.S. Trade Representative Katherine Tai met with World Trade Organization Director-General Ngozi Okonjo-Iweala in Jaipur, India, ahead of the G-20 Trade and Investment Ministers' Meeting, the Office of the U.S. Trade Representative announced. The readout said Tai discussed U.S. support for the WTO and the 13th Ministerial Conference, set to take place in late February next year. Agreeing to remain in "close coordination" in the coming months, Tai and Okonjo-Iweala expressed their desire to make MC13 "the WTO's first reform ministerial."
Hong Kong and Ukraine formally accepted the World Trade Organization's Agreement on Fisheries Subsidies, becoming the 15th and 16th parties to do so, the WTO announced. The deal would impose rules to crack down on subsidies for illegal, unreported and unregulated fishing. The announcement by Hong Kong and Ukraine means nearly 40% of member states have ratified the deal, which requires acceptance by two-thirds of WTO members to enter into force.