Trade monitoring
What role for international cooperation on services trade policy?
Trade in services continues to evolve. Technology and regulatory reforms are driving a fundamental transformation, creating new demand while simultaneously helping to reduce trade costs and opening further opportunities to trade services. Under the impetus of global value chains, demographic trends, rising per capita incomes in emerging markets and environmental concerns, demand for foreign-supplied services is on the rise. The evolving avenues, actors and composition of services trade increase its potential to contribute to inclusive economic growth and development, but also present a number of challenges that need to be addressed to fulfil this potential.
Une composition mondiale
Le Yémen, pays moins avancé (PMA), a accédé à l’OMC en juin 2014, devenant ainsi le 160e Membre de l’Organisation. L’ensemble des textes relatifs à l’accession des Seychelles a été approuvé en décembre, permettant ainsi aux Seychelles de devenir le Membre le plus récent de l’OMC en avril 2015 (voir les pages 24-25). Les Membres de l’OMC représentent maintenant 98 % du commerce mondial, contre 91 % en 1995 lorsque l’OMC a été créée.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, Ms. Irene Young of Hong Kong, China at the Trade Policy Review of Japan, 8 and 10 March 2017
The thirteenth Trade Policy Review of Japan has been a good opportunity for Members to discuss recent developments in the country’s economic, trade and investment policies and their implications for international trade. Such a fruitful dialogue would not have been possible without the constructive engagement of the Japanese delegation led by Mr. Tomochika Uyama; their team in Geneva headed by Ambassador Junichi Ihara; our discussant, H.E. Ambassador Julian Braithwaite from the United Kingdom; and all those Members who had participated in this exercise.
Évolution de la structure des échanges
Ce chapitre met en lumière l’évolution de la structure des échanges dans divers secteurs induite par des facteurs tels que les tensions commerciales, l’augmentation de la demande de divers produits, l’impact de la technologie numérique et les effets de la pandémie de COVID-19.
Report by the WTO Secretariat
Since 2011, Cambodia’s real GDP growth has been strong, averaging over 7% annually. Construction, manufacturing (mainly garments exports) and, to a lesser extent, tourism-related services, have been the drivers of growth. Economic growth has been inclusive and widespread, resulting in declining inequality and poverty levels. Prudent macroeconomic management has resulted in moderate inflation, a stable exchange rate, relatively low unemployment, and manageable external debt levels. However, the informal nature of a large portion of the Cambodian economy, which is largely based on services followed by agriculture, implies that GDP is significantly underestimated, and that it undermines the effectiveness of government policy.
The multilateral trading system and PTAs
A perennial policy question is how the multilateral trading system is affected by the rise of preferential trading agreements (PTAs). Is multilateral trade cooperation compromised by burgeoning regionalism? Should we see these different approaches as complementing or competing with each other? Are there synergies, or inevitable conflicts? Building on the analysis of the report so far, this final section examines these questions.
Foreword
The World Trade Report is a new annual publication produced by the WTO Secretariat. Each year, the WTR will explore trends in world trade and highlight important issues in the world trading system. In addition to monitoring and interpreting trade developments, the Report seeks to deepen public understanding of pressing policy issues. The WTR does not pretend to provide comprehensive answers to complex and many-sided questions subject to continuing debate among governments and their constituencies. Rather, by explaining the origin of issues and offering an analytical framework within which to address them, the WTR aims to contribute to more informed discussion and a better appreciation of the options available to address policy challenges.