Trade monitoring
World trade developments
Global output and trade growth decelerated sharply in 1998 as imports of Japan and East Asia fell for the first time since 1974 (first oil crisis). All regions and all broad product categories were affected by the slowdown. The share of the developing countries in world trade dipped for the first time in more than a decade. Nearly two thirds of the world’s economies recorded a decrease in their export earnings, which was the worst performance observed in the 1990’s. Preliminary indicators point to an arrest of the slowdown of world trade in the first months of 1999 and an acceleration of growth in the second quarter.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Merchandise trade and trade in commercial services: Trade in commercial services
The transport sector experienced a difficult year in 2015. Container shipping rates fell sharply and the shipping sector suffered from overcapacity due to lower demand in developing economies. Global air freight volumes slowed in particular in Asia and in Europe, reflecting weaker merchandise trade flows. In contrast, cheaper global air fares resulting from collapsing oil prices boosted international air passenger traffic, which rose by 6.5 per cent, a record for the past decade.
Trade in goods
In 2016, the Council for Trade in Goods addressed many trade concerns, including ten new ones, reflecting its growing role as a forum for airing concerns about measures, policies and practices considered potentially discriminatory or trade restricting. China and Pakistan presented a proposal for advancing the WTO work programme on e-commerce. The Council also considered several waiver requests.
Budget, finances et administration
En 2009, le Comité du budget, des finances et de l'administration a recommandé l'approbation du budget proposé pour la période biennale 2010–2011 et a examiné des questions relatives à la rénovation du bâtiment du siège de l'OMC et à la construction d'un nouvel édifice attenant.
Trade monitoring reports
Four comprehensive reports were presented by the Director-General on global trade developments, in January, April, July and November 2009. These were discussed at various meetings of the Trade Policy Review Body (TPR B). The reports showed that, despite the depth of the crisis and rising unemployment, WTO members had, by and large, resisted domestic protectionist pressures and kept markets open. Nor was there any significant instance of trade retaliation. Nevertheless, there were aspects of countries’ stimulus packages that threatened to distort trade, notably ‘buy national’ policies attached to some public spending programmes and the substantial help given by some governments to the banking and auto industries.