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Report by WTO Secretariat
Located in the Horn of Africa Djibouti is a least developed country (LDC) and has been classified by the World Bank as a lower-middle-income country. It had a gross national income per capita of USD 5610 in 2020. Its geographical location port infrastructure and political stability make it a major maritime hub and have prompted several countries to establish military bases there. Revenue from the bases and from port activities has fostered the emergence of a modern segment of the economy that coexists with a large informal sector. However the high cost of production factors and the strong presence of public companies continue to hinder the country’s economic development. Given Djibouti’s narrow production base international trade is fundamental for the country which relies almost exclusively on imports to meet its domestic demand for most goods and some services. Thanks to the infrastructure (especially ports) re-exports far outstrip exports.
Report by Djibouti
The Republic of Djibouti is a State in the Horn of Africa located on the Red Sea and bordered to the north by Eritrea to the north-west west and south by Ethiopia and to the south-east by Somalia. The territory is delimited by 370 kilometres of coastline the population is estimated to be 1 million and the country has no natural resources.
Trade Policy Review: Djibouti 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member’s major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Djibouti.
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.
Report by United States
As we undergo our fifteenth trade policy review the United States affirms that our priorities at the WTO and in the global trading system are more important than ever. We are leveraging our core values of fairness inclusivity growth and sustainability to navigate the myriad complex challenges we find ourselves in today: a pandemic response violent conflict initiated by one WTO Member against another supply chain shortages and environmental concerns.
Trade Policy Review: United States of America 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member’s major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of the United States of America.
Report by the Secretariat
The United States has a large economy that is highly integrated with the rest of the world. After a period of stable economic growth in 2018 and 2019 when real GDP expanded by 2.9% and 2.3% respectively the U.S. economy suffered the effects of the COVID-19 pandemic. Real GDP contracted by 3.4% in 2020 after 11 consecutive years of expansion. The economy experienced a rapid rebound in 2021 aided by the support packages put in place by the Government and by an easing of monetary conditions. This led to a real GDP growth rate of 5.7% in 2021.
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.
Introduction
The overall objective of the WTO is to help its members use trade as a means to raise living standards create jobs and improve people’s lives. The WTO operates the global system of trade rules and helps developing economies build their trade capacity. It also provides a forum for its members to negotiate trade agreements and to resolve the trade problems they face with each other.
Annual Report 2023
The WTO Annual Report 2023 provides a comprehensive account of the WTO’s activities in 2022 and the early part of 2023. At the start of the report Director-General Ngozi Okonjo-Iweala reflects on the current challenges facing world trade and the role of the WTO in helping the world address these challenges.
What we do
The WTO operates the global system of trade rules guaranteeing WTO member governments important trade rights.
What we stand for
Simple fundamental principles form the foundations of the multilateral trading system. These principles have lain at the core of all WTO activities since its creation in 1995.
Who we are
The WTO is run by its member governments. All major decisions are made by the membership as a whole either by ministers (who meet at least once every two years) or by their ambassadors or delegates (who meet regularly at the WTO’s headquarters in Geneva). Decisions are normally taken by consensus. The WTO Secretariat coordinates the activities of the WTO.
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 Policy Review: Barbados 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Barbados.
Trade Policy Review: Ghana 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Ghana.
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.
Report by Barbados
Since its last Trade Policy Review in 2014 Barbados sought to continue building on its growth and development path despite the numerous challenges it would have faced since the 2008 financial crisis. Notwithstanding efforts by the Government to bring about sustained growth to the economy post 2014 the economy grew marginally during this period and beyond. This stagnant growth resulted in difficulties in expanding the economy and maintaining the level of employment in both the public and private sector.
Trade Policy Review: Moldova, Republic of, 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Moldova.
Trade Policy Review: New Zealand 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of New Zealand.
Report by New Zealand
Aotearoa New Zealand is pleased to submit its sixth Trade Policy Review (TPR) for the scrutiny of fellow World Trade Organization (WTO) Members.
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 Ghana, 21 and 23 June 2022.
The fifth Trade Policy Review of Ghana has offered us a good opportunity to deepen our understanding of the main developments in and challenges to Ghana’s trade economic and investment policies since its previous TPR in 2014.
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.
Report by the Republic of Moldova
The Republic of Moldova submits this general policy statement as part of its second Trade Policy Review.
Report by Ghana
Ghana is located on the Gulf of Guinea in West Africa with a population of approximately 31 million people growing at an annual rate of 2.1%. Ghana has a total land surface area of 238540 square kilometres and lies on the Atlantic with 540 kilometres coastline.
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 New Zealand, 1 and 3 June 2022.
The sixth Trade Policy Review of New Zealand 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 fifth TPR in 2015. I would like to thank the New Zealand delegation led by H.E. Ambassador Clare Kelly Permanent Representative of New Zealand to the WTO for the active participation in this exercise. My gratitude also goes to our discussant H.E. Ambassador Stephen de Boer Permanent Representative of Canada for his insightful comments and to the 41 delegations that took the floor during this meeting. The strong interest in New Zealand’s trade policies is also evident from the 442 advance written questions 268 sent before the meeting.
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 2200 in 2020 against USD 2000 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
During the review period 2015-21 New Zealand continued to strengthen its position as one of the most open economies in the world and updated some elements of its trade and investment regime. New Zealand considers trade as critical for its prosperity and seeks to ensure that trade is inclusive.
Report by the WTO Secretariat
The Republic of Moldova is a small open landlocked upper-middle-income country. The services sector dominates the economy accounting for 64% of GDP while agriculture continues to play an important role as well (accounting for 12% of GDP and around 21% of employment) particularly in rural areas. Remittances represented nearly 15% of GDP in 2021 and the population has continued to decline as relatively young workers emigrate. The Republic of Moldova is dependent on imports of fossil fuels (including gas which is also used to generate electricity) while state-owned enterprises continue to play an important role in the economy particularly in terms of employment.
Report by the WTO Secretariat
Barbados is a relatively small and open economy with a GDP per capita of some USD 14619 in 2020. Barbados is highly dependent on imports of goods and on exports of services particularly tourism and was thus strongly affected by the COVID-19 pandemic. In 2020 real GDP declined by 14% and grew by 0.7% in 2021. This came after a period of already weak economic performance: real GDP declined in four of the years of the review period. Limited economic diversification strong reliance on imported consumer and investment goods and persistent fiscal deficits left Barbados vulnerable to exogenous shocks even before the outbreak of COVID-19.
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 Brazil, 23 and 25 November 2022.
The eighth Trade Policy Review of Brazil 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 seventh TPR in 2017 Brazil’s initiatives to maintain its participation in the Multilateral Trading System and take advantage of the opportunities it offers were greatly appreciated. Indeed the 958 advance written questions submitted by 38 Members and the 51 delegations that took the floor during the first and second day underline the importance attached by Members to Brazil’s trade and investment policies and practices.
Trade Policy Review: Mexico 2022
“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Mexico.
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, H.E. Dr Athaliah Lesiba Molokomme of Botswana, acting on behalf of the current Chairperson of the Trade Policy Review Body, H.E. Mr Ángel Villalobos Rodríguez of Mexico, at the Trade Policy Review of Mexico, 5 and 7 October 2022.
This seventh Trade Policy Review has provided an excellent opportunity to review the main developments in and challenges of Mexico’s trade and investment policies since its last Review in 2017. I would like to thank Undersecretary for Foreign Trade at the Secretariat of Economy the Hon. Ms Luz María de la Mora Sánchez who has travelled from Mexico and Ambassador Ángel Villalobos and the rest of the Mexican delegation for their active engagement in this Review. I would also like to thank our discussant Ambassador Clare Kelly of New Zealand for her valuable contribution.
Trade Policy Review: Brazil 2022
“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Brazil.
Report by Brazil
The Brazilian Government is pleased to submit its eighth Trade Policy Report to WTO Members. Brazil considers this periodic review mechanism as a key element of the multilateral trading system embodied in the WTO contributing to a more transparent and comprehensive understanding of Members’ trade policies and regulatory frameworks.
Report by the WTO Secretariat
The Mexican economy experienced a severe downturn starting in mid-2018 followed by a slight contraction in real GDP in 2019 due in particular to a fall in gross capital formation a reduction in public spending and a slowdown in private consumption. In 2020 the economy was badly affected by the COVID-19 pandemic which caused GDP to shrink by 8.2% during the year. In 2021 the Mexican economy rebounded with GDP growth of around 4.8% thanks in large part to the measures adopted to deal with the pandemic which were aimed primarily at assisting the hardest-hit families and businesses particularly small and medium-sized enterprises. These measures include the opening of facilities to provide an adequate level of liquidity incentives for the restructuring of bank loans and the implementation of social programmes and business support programmes such as the Financial Support Programme for Family-Run Microenterprises.
Report by the WTO Secretariat
Since Brazil’s previous Review in 2017 efforts for improving economic fundamentals and strengthening macroeconomic resilience were undertaken. During the review period and prior to the COVID-19 outbreak Brazil’s annual GDP growth rate rose up to 1.8% (2018) before contracting to 3.9% (2020) due to the pandemic. It has since bounced back to an estimated 4.6% in 2021 as a result of timely adopted support measures booming terms of trade a pickup in commodity prices recovery in domestic and external demand and robust private sector credit growth. Brazil’s annual average GDP growth rate for the period 2017-21 was relatively low at 1% although higher than the average of -0.4% in 2012-16. Developments in the country’s position among the most competitive economies in the world reflect inter alia improvements in the business environment but also weaknesses in several areas where reforms have been under way. Between 2017 and 2020 inflation at rates ranging from 3.2% to 3.7% remained under the upper limit of the tolerance range established by the Central Bank of Brazil (BCB); however since January 2021 it exceeded its upper limit attaining 8.3% that year and rose progressively to 12.13% in April 2022 but easing subsequently to 11.7% in May 2022. Unemployment rose slightly to the historically high rate of 13.5% in 2020 and 2021 inter alia due to the impact of the pandemic.
Trade Policy Review: Seychelles 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Seychelles.
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.
Report by the WTO Secretariat
Switzerland and Liechtenstein are among the top high-per capita income countries in the world and are very well integrated into international trade. They both benefit from strong democratic institutions educated populations and a specialization in value-added production. Their fiscal situation is sound and their unemployment traditionally low. Services account for about three quarters of the Swiss economy. One particularity of the Liechtenstein economy is the importance of manufacturing representing 40% of GDP in 2019. During the review period and prior to the COVID-19 pandemic real GDP growth in Switzerland was positive ranging from 1.2% in 2019 to 2.9% in 2018. GDP growth in Liechtenstein tends to be more volatile because of the small size of the economy. After three years of real GDP growth Liechtenstein’s GDP contracted by 2.3% in 2019. Because of the COVID-19 pandemic real GDP growth fell by 2.4% in 2020 in Switzerland and further in Liechtenstein. Thanks to strong financial buffers and a prompt response by the Governments the pandemic is not expected to have negative effects on long-term economic prospects.
Trade Policy Review: United Arab Emirates 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of the United Arab Emirates.
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 Policy Review: Panama 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Panama.
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 Georgia, 12 and 14 January 2022.
This third Trade Policy Review of Georgia has been an excellent opportunity to examine the evolution of its trade and related policies since the previous Review in 2016 as well as to learn about the unique challenges caused by the COVID-19 pandemic that has impacted trade and the global economy. I would like to thank the delegation of Georgia led by Mr Genadi Arveladze Deputy Minister of Economy and Sustainable Development for its active participation and engagement in this exercise. I would also like to express my appreciation to our discussant H.E. Ambassador Simon Manley of the United Kingdom and to the 18 delegations that took the floor during this meeting.
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.
Report by the WTO Secretariat
The United Arab Emirates (UAE) is a federation of seven Emirates: Abu Dhabi Ajman Dubai Fujairah Ras Al Khaimah Sharjah and Umm Al Quwain. Responsibility for policy laws and administration is shared among the federal authorities and the individual Emirates. Together Abu Dhabi and Dubai account for over 85% of the country’s gross domestic product (GDP). The oil and gas sector accounts for around 30% of the UAE’s GDP 41% of public revenues and 26% of merchandise exports excluding re-exports. Thus economic diversification remains a priority of government policy.
Report by the WTO Secretariat
Since Pakistan’s previous Trade Policy Review in 2015 efforts for improving economic fundamentals and strengthening macroeconomic resilience have been undertaken. Pakistan was able to weather the COVID-19 pandemic comparatively well supported by a proactive and comprehensive set of economic policies and other support measures. During the review period Pakistan’s annual GDP growth on a market price basis peaked at 5.8% (2017/18) and declined to -0.9% (2019/20) due to the COVID-19 outbreak. It has since bounced back to an estimated 4.7% in 2020/21 as a result of the timely adopted support measures. Pakistan’s GDP annual average growth rate for the period 2014/15-20/21 stood at 3.8% a slight rise compared to previous performances (averaging 3.2% in 2007/08-13/14). Following an episode of external and fiscal imbalances on 3 July 2019 Pakistan entered a 39-month IMF Extended Fund Facility (EFF) involving adjustment measures including fiscal consolidation; in light of the COVID-19 incidence the EFF was temporarily put on hold in March 2020. Developments in Pakistan’s competitiveness position in the world reflect those of labour productivity growth and in particular total factor productivity growth but also weaknesses in several areas where reforms have been under way. Inflation peaked at 10.7% in 2019/20 before slightly dropping to 8.9% in 2020/21 almost twice its 2014/15 level; the unemployment rate increased from 5.8% in 2017/18 to 6.9% (2018/19) and then seemingly rose further reflecting concerns over a low GDP growth rate and the impact of the pandemic.
Report by the WTO Secretariat
Over the last decade Georgia’s economic growth has been largely positive and there has been a demonstrated commitment to open markets and further integration into world and regional markets as illustrated by the country’s engagement in the WTO and more recently through its commitments under the Deep and Comprehensive Free Trade Area (DCFTA) with the European Union. As a result of these developments and the increase in gross national income per capita Georgia reached the status of upper-middle income country in 2016.
Trade Policy Review: Pakistan 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Pakistan.
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 Policy Review: Georgia 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Georgia.
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.
Report by the WTO Secretariat
Panama has a small relatively open economy that is highly dependent on services especially those related to foreign trade. The Panama Canal and the development of free zones make the country one of the world’s most important distribution and re-export centres which is why in 2019 the sum total of Panama’s exports and imports of goods and services was equivalent to 82% of GDP. Services accounted for 70% of GDP during the review period; in 2020 the most important services were wholesale and retail trade; transport storage and communications; financial intermediation; and real estate business and rental activities. All of these services are related in some way to international trade. The structure of Panama’s merchandise trade is of particular importance: a distinction must be drawn between trade from the Panamanian customs territory per se and trade through the Colón Free Zone where three quarters of the value of the country’s total merchandise trade is processed. During the review period there was a significant change in the type of merchandise exported by Panama: until 2018 agricultural and food products dominated whereas in 2019 exports of mining products specifically copper which were previously non-existent commenced following the opening of a copper mine that year accounting for 56% of all goods exported in 2020.
Report by Pakistan
Pakistan’s fifth Trade Policy Review comes at a time when the economy is recovering from a global pandemic. In 2020 while the world output shrunk by nearly 3.5% Pakistan’s effective COVID-19 response measures helped mitigate its impact on the economy. Pakistan’s economy contracted by less than half a percent during FY2019/20 and rebounded rapidly to near 4% growth in FY2021. By population size Pakistan is the 5th largest country (about 220 million) in the world and has so far successfully avoided morbidity/mortality rates experienced by some comparable countries due to the pandemic.
Trade Policy Review: Switzerland and Liechtenstein 2022
“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Switzerland and Liechtenstein.
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, H.E. Dr. Athaliah Lesiba Molokomme of Botswana, acting on behalf of the current Chairperson of the Trade Policy Review Body, H.E. Mr. Ángel Villalobos Rodríguez of Mexico, at the Trade Policy Review of Switzerland and Liechtenstein, 18 and 20 May 2022.
The sixth joint Trade Policy Review of Switzerland and Liechtenstein (the eight review of Switzerland and the sixth review of Liechtenstein) has enabled Members to understand the main developments that have occurred in the trade economic and investment policies of Switzerland and Liechtenstein since the review conducted in 2017. The strong interest in Switzerland’s and Liechtenstein’s trade policies is evident from the written questions posed and the large number of delegations that made statements 48 delegations took the floor during the first day. This reflects the importance of individual Members’ trade and investment relationships with Switzerland and Liechtenstein as well as a generally shared recognition and appreciation of the significant role of these Members in supporting the multilateral trading system.
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.