Trade monitoring
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Preface
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.
20 years of the WTO
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.
General Council
In 2010 the General Council continued to oversee the progress of the Doha Round negotiations on the basis of reports from the Director-General in his capacity as Chair of the Trade Negotiations Committee. The General Council also reviewed the various accession negotiations, and heard a report by the Director-General on the development assistance aspects of cotton and a review of progress by Deputy Director-General Harsha Singh on the work programme on electronic commerce. In addition, regular reports were received from the Committee on Trade and Development on small economies. Some of the other matters considered by the General Council in 2010 are listed below.
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.
Trade, debt and finance
Senior WTO officials continued to work with multilateral development banks to facilitate the provision of trade finance, particularly for developing countries. A decision by the Basel Committee to modify leverage rules in order to support trade was hailed by Director-General Roberto Azevêdo as “good news for developing countries”. The WTO Working Group on Trade, Debt and Finance continued its examination of the relationship between exchange rates and trade.
Contact with the business community
The WTO’s annual Public Forum attracted a significant increase in business representatives in 2015, showing the strong interest of business groups and companies in contributing to the debate about WTO activities. The business community was also well-represented at the Tenth Ministerial Conference in Nairobi. Twenty-three of the non-governmental organizations accredited for the event were business organizations.
Merchandise trade and trade in commercial services
World merchandise exports fell by 3 per cent in 2016 in value terms. This decrease was mostly caused by the continuing decline in exports of fuels and mining products (-14 per cent in 2016). The marked decline in commodity prices in 2015 mostly halted in 2016, with the exception of energy prices. The export prices of all other major commodity groups, apart from food and beverages, decreased slightly but the decline was less than in 2015.