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Lamy Calls for Summit on Trade Finance amid Global Credit Crisis
WTO Director-General Pascal Lamy has called for the heads of international financial institutions, regional development banks and major commercial banks to meet at WTO headquarters in Geneva next month to discuss how the global financial crisis is affecting developing countries’ ability to participate in international trade. The Director-General also announced that he planned to set up…
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SPS Committee Hears from China, Moves Forward on Private Sector Standards
The WTO Committee that deals with trade measures related to food safety and animal and plant health has heard from China on the recent melamine contamination of Chinese milk products. Aside from more specific concerns on measures that affect trade, the committee also outlined a roadmap for addressing private sector standards, heard concerns over new…
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Korea TPR: Sound Fundamentals, but Further Reform Needed to Sustain Growth
Prudent macroeconomic and structural reforms, including liberalisation of its trade and investment regimes, have contributed to Korea’s steady growth of 4.8 percent per year since 2004, a WTO assessment of the country’s trade policies concluded last week. But the report said that the country’s economy could make further gains by improving its investment climate, promoting…
- In Brief
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Caribbean Nations Sign EPA with EU
At least 13 Caribbean nations signed a far-reaching Economic Partnership Agreement, or EPA, with the EU at a ceremony in Barbados on Wednesday. The pact covers trade in goods, services and investments, and offers development assistance to the Caribbean countries that join it. It remained unclear on Wednesday whether Guyana and Haiti, which have opposed the…
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IMF: "World Economy Facing Major Downturn"
“The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s,” the International Monetary Fund (IMF) said in its annual World Economic Outlook, released earlier this month. The report explained that, although the global economy is facing extremely “tough times” ahead, sound…
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Trade in Wild Plants, Tuna Make Waves at IUCN Congress
Sustainable management of wild plants and trade in Mediterranean bluefin tuna were tackled at the 10-day IUCN World Conservation Congress, which concluded on 14 October in Barcelona, Spain. Signatory institutions to an international standard that promotes the sustainable management of wild plants used in medicines and cosmetics have agreed to create an industry labelling system that…
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Report: Economics Justifies Universal Elimination of Fisheries Subsidies
The marine fishing industry loses up to US$ 50 billion annually from poor management, inefficiencies and overfishing, according to a new report by the World Bank and the Food and Agriculture Organisation (FAO). The report, titled ‘The Sunken Billions: The Economic Justification for Fisheries Reform,’ was launched at the World Bank headquarters in New York…
- WTO in Brief
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Hunt for New WTO Chief to Commence 1 December
The process for appointing a new Director-General of the WTO is set to commence on 1 December, according to the chair of the WTO’s General Council, Australian Bruce Gosper. The current head of the global trade body, Frenchman Pascal Lamy, must tell the General Council Chair by 1 December whether he wants to be considered a…
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WTO Issues Mixed Interim Ruling in US-China Piracy Dispute, Sources Say
A WTO panel has issued a split decision in a dispute between the US and China over the enforcement of intellectual property rights, press sources indicated.…
- Events
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Events
Coming up: 16 - 22 October 19-22 October, Manila, the Philippines. THIRD GLOBAL CONGRESS OF WOMEN IN POLITICS AND GOVERNANCE. The theme of this Third Global Congress of Women in Politics and Governance is “Gender in Climate Change and Disaster Risk Reduction.” The congress is jointly organised by the Centre for Asia-Pacific Women in Politics (CAPWIP)…
- Resources
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Resources
WORLD ECONOMIC OUTLOOK: FINANCIAL STRESS, DOWNTURNS, AND RECOVERIES. International Monetary Fund (IMF), October 2008. The World Economic Outlook (WEO) presents the IMF staff’s analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. It focuses on major economic policy…