Trade monitoring
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.
Report by Samoa
The Treaty establishing the East African Community (EAC) came into force on 7 July 2000, thus a new beginning of the revived EAC. The EAC has six partner States, namely, Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda. The EAC Customs Union came into force on 1 January 2005 and the Common Market on 1 July 2010. English is the official language of communication within the community policy structures.
Asuntos presupuestarios, financieros y administrativos
En 2012 finalizaron las obras de construcción del anexo de la sede de la OMC en Ginebra, con lo que por primera vez todos los funcionarios están reunidos bajo un mismo techo. El Comité de Asuntos Presupuestarios, Financieros y Administrativos examinó periódicamente la situación presupuestaria y financiera de la Organización, los atrasos en el pago de contribuciones de los Miembros y observadores, la gestión de los recursos humanos y el Plan de Pensiones de la OMC.
Report by the WTO Secretariat
Guinea’s economy is based on the mining sector (26 per cent of GDP, including processing bauxite into alumina) and agriculture (20 per cent), the former providing 95 per cent of export earnings, and the latter the remainder. Exports’ share of GDP rose from 34 per cent in 2005 to 41 per cent in 2009, highlighting the strong global demand for bauxite, diamonds and gold, and the weakness of the other sectors in Guinea’s economy. In 2011, substantial foreign direct investment (FDI) in the production of alumina and iron ore was planned, together with two port extensions. This investment is for an amount comparable to the country’s annual GDP. It is therefore vital to introduce appropriate macroeconomic policies, including trade policies, so as to prevent the strong inflationary trends which such investment might cause.
Trade and development
In 2012, the Committee on Trade and Development (CTD) pressed ahead with implementing the work programme on electronic commerce. Other issues discussed by the CTD and its Sub-Committee on Least-Developed Countries (LDCs) included accelerating and easing LDC accessions, capacity-building initiatives, market access for LDCs and technical assistance.