Trade monitoring
Observaciones formuladas a modo de conclusión por el Presidente, Excmo. Sr. Dacio Castillo de Honduras, en nombre de la actual Presidenta, del Órgano de Examen de las Políticas Comerciales, Excma. Sra. Dra. Athaliah Lesiba Molokomme de Botswana, en la reunión de Examen de las Políticas Comerciales de Panamá celebrada los días 24 y 26 de enero de 2022.
Este tercer examen de las políticas comerciales de Panamá ha sido una excelente ocasión para examinar las políticas de comercio e inversión de Panamá y los cambios introducidos durante el período examinado, el cual ha sido particularmente difícil para todos debido a los desafíos que enfrentamos a causa de la crisis sanitaria que ha perturbado el comercio y la economía mundial. Esta ha sido una oportunidad para comprender mejor estas políticas y para formular preguntas e intercambiar impresiones de manera franca. Deseo agradecer a la Viceministra de Negociaciones Comerciales Internacionales, Excma. Sra. Linda Castillo, que ha participado desde Panamá; al Embajador Alfredo Suescum, y al resto de la delegación de Panamá, aquí en Ginebra y en la capital, por su activa participación en este examen. Agradezco además a nuestro ponente, el Sr. Laurie Lo, Representante Permanente de Hong Kong, China, por su valiosa contribución a nuestras deliberaciones. Las más de 230 preguntas recibidas por Panamá y las 29 delegaciones que tomaron la palabra ilustran la importancia que los Miembros otorgan a las políticas comerciales de Panamá. Los Miembros han valorado mucho las respuestas que Panamá presentó por escrito a las preguntas recibidas, y esperamos con interés las respuestas pendientes, a más tardar un mes después de la presente reunión.
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.
Concluding Remarks by the Chairperson, H.E. Mr. Dacio Castillo of Honduras, acting on behalf of the current Chairperson of the Trade Policy Review Body, H.E. Dr. Athaliah Lesiba Molokomme of Botswana, at the Trade Policy Review of Georgia, 12 and 14 January 2022.
This third Trade Policy Review of Georgia has been an excellent opportunity to examine the evolution of its trade and related policies since the previous Review in 2016, as well as to learn about the unique challenges caused by the COVID-19 pandemic that has impacted trade and the global economy. I would like to thank the delegation of Georgia, led by Mr Genadi Arveladze, Deputy Minister of Economy and Sustainable Development, for its active participation and engagement in this exercise. I would also like to express my appreciation to our discussant, H.E. Ambassador Simon Manley of the United Kingdom, and to the 18 delegations that took the floor during this meeting.
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.
Prefacio
El Mecanismo de Examen de las Políticas Comerciales (MEPC), establecido a título experimental por las Partes Contratantes del GATT en abril de 1989, se ha convertido en un elemento permanente de la Organización Mundial del Comercio en virtud del Acuerdo de Marrakech por el que se estableció esta Organización en enero de 1995.
Report by the WTO Secretariat
The United Arab Emirates (UAE) is a federation of seven Emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain. Responsibility for policy, laws, and administration is shared among the federal authorities and the individual Emirates. Together, Abu Dhabi and Dubai account for over 85% of the country’s gross domestic product (GDP). The oil and gas sector accounts for around 30% of the UAE’s GDP, 41% of public revenues, and 26% of merchandise exports, excluding re-exports. Thus, economic diversification remains a priority of government policy.
Report by the WTO Secretariat
Since Pakistan’s previous Trade Policy Review in 2015, efforts for improving economic fundamentals and strengthening macroeconomic resilience have been undertaken. Pakistan was able to weather the COVID-19 pandemic comparatively well, supported by a proactive and comprehensive set of economic policies and other support measures. During the review period, Pakistan’s annual GDP growth on a market price basis peaked at 5.8% (2017/18), and declined to -0.9% (2019/20), due to the COVID-19 outbreak. It has since bounced back to an estimated 4.7% in 2020/21 as a result of the timely adopted support measures. Pakistan’s GDP annual average growth rate for the period 2014/15-20/21 stood at 3.8%, a slight rise compared to previous performances (averaging 3.2% in 2007/08-13/14). Following an episode of external and fiscal imbalances, on 3 July 2019 Pakistan entered a 39-month IMF Extended Fund Facility (EFF) involving adjustment measures, including fiscal consolidation; in light of the COVID-19 incidence, the EFF was temporarily put on hold in March 2020. Developments in Pakistan’s competitiveness position in the world reflect those of labour productivity growth and, in particular, total factor productivity growth, but also weaknesses in several areas where reforms have been under way. Inflation peaked at 10.7% in 2019/20 before slightly dropping to 8.9% in 2020/21, almost twice its 2014/15 level; the unemployment rate increased from 5.8% in 2017/18 to 6.9% (2018/19) and then seemingly rose further, reflecting concerns over a low GDP growth rate and the impact of the pandemic.
Report by the WTO Secretariat
Over the last decade, Georgia’s economic growth has been largely positive and there has been a demonstrated commitment to open markets and further integration into world and regional markets as illustrated by the country’s engagement in the WTO and more recently through its commitments under the Deep and Comprehensive Free Trade Area (DCFTA) with the European Union. As a result of these developments and the increase in gross national income per capita, Georgia reached the status of upper-middle income country in 2016.
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.
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.
Report by the WTO Secretariat
Panama has a small, relatively open economy that is highly dependent on services, especially those related to foreign trade. The Panama Canal and the development of free zones make the country one of the world’s most important distribution and re-export centres, which is why in 2019, the sum total of Panama’s exports and imports of goods and services was equivalent to 82% of GDP. Services accounted for 70% of GDP during the review period; in 2020, the most important services were wholesale and retail trade; transport, storage and communications; financial intermediation; and real estate, business and rental activities. All of these services are related in some way to international trade. The structure of Panama’s merchandise trade is of particular importance: a distinction must be drawn between trade from the Panamanian customs territory per se and trade through the Colón Free Zone, where three quarters of the value of the country’s total merchandise trade is processed. During the review period, there was a significant change in the type of merchandise exported by Panama: until 2018, agricultural and food products dominated, whereas in 2019, exports of mining products, specifically copper, which were previously non-existent, commenced following the opening of a copper mine that year, accounting for 56% of all goods exported in 2020.
Report by Pakistan
Pakistan’s fifth Trade Policy Review comes at a time when the economy is recovering from a global pandemic. In 2020, while the world output shrunk by nearly 3.5%, Pakistan’s effective COVID-19 response measures helped mitigate its impact on the economy. Pakistan’s economy contracted by less than half a percent during FY2019/20 and rebounded rapidly to near 4% growth in FY2021. By population size, Pakistan is the 5th largest country (about 220 million) in the world and has so far successfully avoided morbidity/mortality rates experienced by some comparable countries due to the pandemic.
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.
Concluding Remarks by the Chairperson, H.E. Dr. Athaliah Lesiba Molokomme of Botswana, acting on behalf of the current Chairperson of the Trade Policy Review Body, H.E. Mr. Ángel Villalobos Rodríguez of Mexico, at the Trade Policy Review of Switzerland and Liechtenstein, 18 and 20 May 2022.
The sixth joint Trade Policy Review of Switzerland and Liechtenstein (the eight review of Switzerland and the sixth review of Liechtenstein) has enabled Members to understand the main developments that have occurred in the trade, economic and investment policies of Switzerland and Liechtenstein since the review conducted in 2017. The strong interest in Switzerland’s and Liechtenstein’s trade policies is evident from the written questions posed and the large number of delegations that made statements, 48 delegations took the floor during the first day. This reflects the importance of individual Members’ trade and investment relationships with Switzerland and Liechtenstein as well as a generally shared recognition and appreciation of the significant role of these Members in supporting the multilateral trading system.
Concluding Remarks by the Chairperson, H.E. Mr. Dacio Castillo of Honduras, acting on behalf of the current Chairperson of the Trade Policy Review Body, H.E. Dr. Athaliah Lesiba Molokomme of Botswana, at the Trade Policy Review of Panama, 24 and 26 January 2022.
This third Trade Policy Review of Panama has been an excellent opportunity to review Panama’s trade and investment policies and the changes made during the review period, which was particularly difficult for everyone owing to the challenges posed by the health crisis that has disrupted trade and the world economy. It has given us the chance to improve our understanding of these policies and to raise questions and exchange views openly. I wish to thank the Vice Minister for International Trade Negotiations, Ms Linda Castillo, who participated from Panama, and Ambassador Alfredo Suescum and the rest of the Panamanian delegation here in Geneva and in the capital, for their active participation in this review. I would also like to thank our discussant, Mr Laurie Lo, Permanent Representative of Hong Kong, China, for his valuable contribution to our discussions. Panama received more than 230 questions and more than 29 delegations took the floor, reflecting the importance that Members attach to Panama’s trade policies. Members much appreciated Panama’s written responses to the questions asked, and we look forward to receiving the pending replies no later than one month after this meeting.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr. Ángel Villalobos Rodríguez of Mexico, at the Trade Policy Review of Pakistan, 30 March and 1 April 2022.
The fifth Trade Policy Review of Pakistan has offered us a good opportunity to deepen our understanding of recent developments in, and challenges to, its trade, economic, and investment policies. Since its fourth TPR in 2015, Pakistan’s initiatives to maintain its participation in the multilateral trading system and take advantage of the opportunities it offers were greatly appreciated. Indeed, the 319 advance written questions submitted by 21 Members and the 33 delegations that took the floor during the first and second day underline the importance attached by Members to Pakistan’s trade and investment policies and practices.
Report by Georgia
Trade liberalization continues to be one of the key objectives on Georgia’s economic policy agenda. In the reporting period Georgia undertook a number of reform initiatives targeted at streamlining, liberalization and simplification of trade regulations and their implementation.