Trade monitoring
Report by Japan
The Japanese economy has continued to recover moderately since November 2012, on the back of improvements in the employment and income environments. Nominal GDP, real GDP and the GDP deflator in FY2015 grew simultaneously from the previous year for the first time in 18 years. The current administration’s economic policies, "Abenomics," are still at about the halfway point, but progress has been made in reviving economic activities and overcoming deflation as a whole. However, the domestic economy lacks momentum in private consumption and business fixed investment in spite of improving corporate profits, employment and income. Major risks are still attached to the uncertainty over the global economy including emerging economies.
A brief history
The WTO began life on 1 January 1995, succeeding the General Agreement on Tariffs and Trade which had regulated world trade since 1948. Over the past 20 years, the WTO has made a major contribution to the strength and stability of the global economy, helping to boost trade growth, resolve numerous trade disputes and support the integration of developing countries into the trading system.
Dispute settlement activity in 2013
It was a demanding year for WTO dispute settlement in 2013, with adjudicating bodies examining 28 disputes on issues from green energy production to the banning of seal products. The Dispute Settlement Body (DSB), which met 13 times, received 20 requests for consultations, the first stage in the dispute settlement process. Developing countries launched nine of the requests, with Latin America particularly active. The rising workload poses challenges for the WTO Secretariat. On a positive note, the WTO’s Digital Dispute Settlement Registry moved into its testing phase.
Budget, finances et administration
Le Comité du budget, des finances et de l’administration a examiné les rapports sur la situation financière et budgétaire de l’OMC et a présenté le rapport 2015 sur les résultats financiers, l’examen intermédiaire 2016-2017 et le premier rapport du Bureau du contrôle interne. Il a envoyé des propositions de révisions du Régime des pensions de l’OMC au Conseil général pour approbation.
Internal audit
During 2011 the Office of Internal Audit (OIA) issued two reports, one on cleaning and maintenance services and the second on security and safety activities. Their aim was to assess the internal controls in place and the adequacy of the contract terms, compliance with the contract terms, the efficiency and effectiveness of operations and resources, the reliability and integrity of documentation, and to appraise the value for money received from the services provided.