Thursday 10 July 2014
 
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WTO

World trade improves but 2014 ‘still below trend’

The World Trade Organization slightly raised its 2014 forecast for growth in global goods trade to 4.7 per cent on Monday, saying it did not expect a return to the historical trend level of 5.3 per cent until 2015. "If GDP fo

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Summit puts focus on multilateral trading issues

The "changing balance of power in the multilateral trading system" was the theme of high-level discussions that concluded in Bahrain yesterday. Organised by Bahrain-based International Institute for Strategic Studies (II

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UAE 15th biggest importer of food in 2012

The UAE was the 15th biggest importer of food trade in 2012, with imports worth $16 billion, constituting 1.1 per cent of the world’s imports, a report said. The annual percentage increase in imports of food into the UAE in

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UAE clothing imports soar to $960m

The value of UAE clothing imports was $960 million last year, said an industry expert, citing the International Trade Statistics 2013 report published by World Trade Organization (WTO). “This figure shows the UAE’s ris

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Bleak outlook for WTO deal as rift widens

Divisions over food subsidies widened among members of the World Trade Organization (WTO) on Thursday, making it unlikely a landmark trade deal could be reached with just a day left to the end of talks. After 12 years of fruitless

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Ethiopia expected to join WTO in 2015

Ethiopia expects to join the World Trade Organisation in 2015 without heeding to demands that it liberalises its state-run banking and telecoms sectors, the Foreign Ministry said on Wednesday. The Horn of Africa nation applied to

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US warns trade talks 'hurtling towards irrelevance'

  The United States launched a blistering attack on fellow World Trade Organization member states on Thursday for failing to do more to cut global barriers to trade, criticising India in particular for trying to introduce a "

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WTO cuts 2013 trade forecast on protectionist fear

The World Trade Organization slashed its forecast for trade growth in 2013 on Wednesday, saying it feared protectionism was on the increase. It cut its forecast for global trade growth in 2013 to 3.3 percent from 4.5 percent and s

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US ban on LNG exports would violate WTO rules

The US would violate global trade rules and damage its credibility if it decides to subsidize steel, chemical and other manufacturers by restricting exports of liquefied natural gas, after years of pressing other countries like China to drop res

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Egypt puts import tariffs on sugar, steel rebar

Egypt has notified the World Trade Organization (WTO) that it has imposed additional tariffs on raw and white sugar and steel rebar for 200 days from December 2, to protect domestic producers from a surge in imports, WTO filings showed on Wednes

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