Trade monitoring
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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 of the Trade Policy Review Body, H.E. Mr. Ángel Villalobos Rodríguez of Mexico, at the Trade Policy Review of the Republic of Moldova, 20 and 22 July 2022.
The second Trade Policy Review of the Republic of Moldova has provided us with a good opportunity to better understand and discuss the developments of trade and trade-related policies of the Republic of Moldova since its previous Review in 2015. The Review has benefited from the constructive and informative participation of the delegation of the Republic of Moldova, headed by H.E. Mr Vadim Gumene, State Secretary of the Ministry of Economy, the insightful comments of the discussant, H.E. Ambassador Mrs Pimchanok Pitfield, Permanent Representative of Thailand to the WTO, and the comments made, and issues raised, by the 17 delegations that took the floor during this meeting. I would also like to take this opportunity to thank the delegations that prepared advance written questions.
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 Barbados, 25 and 27 October 2022.
This fourth Trade Policy Review of Barbados has provided us with an excellent opportunity to better understand the trade and related policies of Barbados since its last Review in 2015 and acknowledge the challenges it faces. The Review has benefited from the constructive and informative participation of Barbados’ delegation, headed by the Honourable Ms Cheryl Sandra V. Husbands, Minister of State in Foreign Trade and Business Development, within the Ministry of Foreign Affairs and Foreign Trade, from the insightful comments of the discussant, H.E. Ambassador Dr Asim Ahmed, Permanent Representative of Maldives to the WTO, and from the 23 delegations that took the floor during this meeting.
Report by the WTO Secretariat
Ghana is a natural resource-based economy. Its strong democratic institutions and good governance have contributed to attracting investment. The resultant economic growth has improved the per capita income of its 31 million people to approximately USD 2,200 in 2020, against USD 2,000 at the time of the last Review in 2014. The World Bank ranks Ghana as a lower middle-income country.
Report by the WTO Secretariat
Since its previous Trade Policy Review in 2013 and prior to the COVID-19 pandemic, despite global challenges, Indonesia’s relatively strong fundamentals and sound macroeconomic policy ensured solid growth and the resilience of its economy. During the review period, the annual average GDP growth rate stood at 5.1% (2013- 19), a minor slowdown compared to previous performance, and continued to be driven by domestic demand; it was underpinned by an accommodative monetary policy mix, adapted to changing external conditions as well as fiscal stimulus measures. To address COVID-19 challenges, several additional support initiatives, including three temporary fiscal stimulus packages, involving traderelated measures and monetary policy action, were undertaken without delay to minimize the economic impact and shore up growth. During the review period, overall total factor productivity appears to have dropped slightly, whereas labour productivity rose somewhat. Developments in Indonesia’s global competitiveness position reflected strengths, inter alia, related to its market size, macroeconomic stability and high rate of technology adoption, but also weaknesses, including relatively low innovation capacity and a relatively unskilled labour force. Inflation dropped significantly to 3% in 2019 (less than half of the 2013 level) and remained within target; during the same period, the unemployment rate also registered a relatively significant decline, to 5% in 2019.
Report by the WTO Secretariat
Over the past 30 years, Viet Nam sustained high GDP growth rates, which transformed the country into a lower-middle-income emerging economy; the poverty rate declined sharply from above 70% in the early 1990s to below 6% in 2019. The economy grew at an average rate of 6.6% per annum between 2014 and 2018 and reached a 10-year high of 7.1% in 2018. In 2019, real GDP grew by 7%, with GDP per capita reaching over USD 2,700. Preliminary data showed that GDP growth in 2020 slowed down to 2.5%, reflecting the impact of the COVID-19 pandemic.