Amid the uproar over the removal of customs duty on apples imported from the US, the Commerce Ministry has clarified that the decision would not impact local players. Addressing a press conference on Tuesday, Peeyush Kumar, Additional Secretary, Commerce Ministry said that the government has sufficient policy space to support growers if there is any […]
A higher import duty on capital goods may hinder India’s potential as a global manufacturing hub and hence it should reconsider the import duty to enhance its participation in the global value chain and accelerate the success of its Make in India program, MVIRDC World Trade Center Mumbai said in a report. The report suggested […]
World Trade Organisation (WTO) members need to do more to boost global trade growth by investing in multilateral cooperation and contributing solutions to the economic challenges the world is facing, Director-General Ngozi Okonjo-Iweala said Wednesday. In remarks delivered to a meeting of the WTO’s Trade Negotiations Committee, which she chairs, the Director-General noted that the […]
The World Trade Organisation (WTO) said that UAE’s trade in goods with the rest of the world hit USD 1.024 trillion in 2022 as the share of both exports and imports increased on the back of higher crude oil prices. Imports accounted for 22 per cent of that amount while exports grew by 41 per […]
Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, WTO economists said in a new forecast on 5th April. Weighed down by the effects of the crisis in Ukraine, stubbornly high inflation, tighter monetary policy and financial market uncertainty, the volume of world […]
The World Trade Organisation (WTO) annual Public Forum 2023 will focus on how trade can contribute to a greener, more sustainable future. The Forum will examine, in particular, how the services sector, digitalisation and inclusive trade policies can support global environmental goals and help combat the climate crisis. Titled ‘It is Time for Action’, the […]
Global trade remained resilient and performed better than pessimistic predictions for 2022 as economies greatly affected by the war in Ukraine found alternative sources of supply, according to a World Trade Organisation note. For the longer-term outlook, new WTO simulations showed the importance of strengthening the multilateral trading system, with least-developed countries likely to be […]
