Source: The post is based on the article “Switzerland is first WTO member to formally accept new Agreement on Fisheries Subsidies” published in WTO on 23rd January 2023 What is the News? Switzerland has become the first WTO member to formally submit its acceptance of the WTO’s new Agreement on Fisheries Subsidies. What is the… Continue reading Switzerland is first WTO member to formally accept new Agreement on Fisheries Subsidies
Tag: WTO
Do WTO like you did COP
News: India should balance its geopolitical interests and geo-economic interests equally. In COP26, by offering to do more than what was expected out of it, India has tried to disarm its critics from the Western countries while voicing the concerns of the South. Later this month, India will find again find itself in a similar… Continue reading Do WTO like you did COP
Trade multilateralism at risk
Synopsis: About WTO’s crisis, various challenges faced by WTO and the way forward. Contents1 Introduction 2 What crisis WTO is facing today? 3 What are the challenges that WTO currently faces?4 What is the way forward? Introduction The World Trade Organization (WTO) is the global trade body. Currently, it is facing a serious existential crisis. The upcoming WTO ministerial meeting which… Continue reading Trade multilateralism at risk
Why is US adamant on the redefinition of ‘developing country’ status in WTO?
The criteria for developing country status in WTO is being challenged by US. Would it be right to reform it?
India uses WTO peace clause for higher rice sops
News:India has invoked the peace clause of the World Trade Organization (WTO) for exceeding the ceiling on support it can offer farmers for rice for the marketing year 2018-2019.This is the first time any country has invoked this clause. Facts: Peace Clause:It is a mechanism which protects a developing country’s food procurement programmes against action… Continue reading India uses WTO peace clause for higher rice sops
Key WTO body may become dysfunctional from December 11
News:The World Trade Organization’s(WTO) appellate body could become dysfunctional on December 11,2019 as the United States continues to block the appointment of members. Facts: About WTO’s Appellate Body: The World Trade Organization’s(WTO) Appellate Body was set up in 1995. It is a standing committee of seven members that presides over appeals against judgments passed in… Continue reading Key WTO body may become dysfunctional from December 11
Special and differential(S&D) treatment
News:India China and several African nations has cautioned against diluting special and differential treatment provisions related to developing countries, as it would lead to deadlock at the WTO. Facts: About Special and differential treatment: The WTO Agreements contain special provisions which give developing countries special rights and which give developed countries the possibility to treat… Continue reading Special and differential(S&D) treatment
WTO cuts global trade growth forecast to 1.2% for 2019
News:The World Trade Organization(WTO) has reduced its global growth forecasts for 2019 to 1.2% from the earlier 2.6%. Facts: The trade forecasts has been reduced due to (a)downgrades on slower growth in major economies (b)trade wars and (c)ongoing uncertainty over Brexit. It has also said that the job creation may also be affected as firms… Continue reading WTO cuts global trade growth forecast to 1.2% for 2019
China lodges case at WTO against US import duties
China has lodged a case against the United States with the World Trade Organization(WTO) over U.S. import duties. The move was taken after the United States began imposing 15% tariffs on a variety of Chinese goods, including footwear, smart watches, and flat-panel televisions. China has said that the latest tariff actions by US has violated… Continue reading China lodges case at WTO against US import duties
WTO to rule on India sugar export subsidies
The World Trade Organization(WTO) has set up panels to rule on complaints by Australia,Brazil and Guatemala against India’s export subsidies for sugar and sugarcane producers. The three countries have claimed that India provides trade-distorting production subsidies including soft loans and subsidies to maintain stocks of sugar and tax rebates. Australia has held India responsible for… Continue reading WTO to rule on India sugar export subsidies
