Trade monitoring
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.
Report by Switzerland and Liechtenstein
Switzerland submits this general policy statement as part of the sixth joint Trade Policy Review of Switzerland and Liechtenstein.
Report by Panama
The Republic of Panama actively promotes a sustainable trade policy that is designed to drive development and has the capacity to foster economic growth and reduce poverty and inequality. This coupled with the advances made in industrial policy will lead us as a country towards a development model based on innovation and competitiveness.
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 United Arab Emirates, 22 and 24 March 2022.
The fourth Trade Policy Review of the United Arab Emirates has provided us with a good opportunity to understand the trade and related policies of the UAE and the changes since its last review in 2016. The Review has benefitted from the constructive and informative participation of the delegation of the UAE headed by H.E. Dr Ahmad Belhoul Al Falasi Minister of State for Entrepreneurship and Small and Medium Enterprises; by H.E. Juma Mohammed Al Kait Assistant Undersecretary for International Trade and the insightful comments of the discussant H.E. Ambassador José Valencia Permanent Representative of Ecuador to the WTO and the comments made and issues raised by the 41 delegations that took the floor during the meeting. I would also like to take this opportunity to thank the delegations that prepared advance written questions.
One year of war in Ukraine
This note examines how the war in Ukraine has affected global trade. It looks at how exports from Russia and Ukraine have evolved over the past year. It then analyses how countries highly dependent on Russian or Ukrainian exports of agricultural and primary goods have responded to the crisis and how prices and trade in goods greatly affected by the war have developed. These impacts reveal the repercussions of the war for developing economies and demonstrate the resilience of the multilateral trading system. This note highlights that a widespread push to reconsolidate global supply chains based on geopolitical considerations would come at a high cost. Reduced growth prospects could be particularly large for many developing countries especially least-developed countries. Their opportunity costs of foregoing further multilateral liberalization and moving to geopolitical rivalry instead could amount to 11.3 per cent of real GDP – placing further strain on the fragile situation triggered by the COVID-19 pandemic.
Executive summary
The war in Ukraine is causing immense human suffering. At the same time it has delivered another severe challenge to the global economy already strained by the impact of the COVID-19 pandemic. However the multilateral trading system has withstood this disruption relatively well so far.
Way forward and policy implications
The war in Ukraine is causing immense human suffering. At the same time it has delivered another major challenge to the global economy already strained by the impact of the COVID-19 pandemic. This series of crises has given rise to a move for reshoring nearshoring and for “friend-shoring” – either making strategically important goods at home or procuring them from allies.
Introduction
The war in Ukraine started one year ago. The human and economic costs are enormous and growing. Through trade particularly in food and some raw materials its effects have spread globally manifested by supply chain disruptions and increased food insecurity. Early assessments of the impact of the war including a WTO Secretariat note (WTO 2022) laid out different scenarios for spill-overs to other regions and identified countries and sectors at heightened risk. After one year of war the WTO Secretariat has reassessed the situation and examined how the multilateral trading system has reacted to the crisis.
Foreword
This report is published in the context of the joint OECD-WTO Aid for Trade Monitoring and Evaluation exercise which underpins the WTO’s 8th Global Review of Aid for Trade on “Empowering Connected Sustainable Trade” (July 2022). This is the eighth volume of the Aid for Trade at a Glance series.