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Tag: WTO

Global trade remains steady, but uncertainty looms—WTO
News

Global trade remains steady, but uncertainty looms—WTO

The World Trade Organisation has reported that global goods trade remained stable in the final quarter of 2024, with signs of continued growth into early 2025. According to the latest WTO Goods Trade Barometer, the index, which provides real-time insights into merchandise trade trends, inched up to 102.8 in December from 102.7, indicating that trade […]

News

Tackle trade tensions diplomatically, Okonjo-Iweala urges WTO members

The Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala has urged member countries to use the organization as a platform for dialogue and engagement to address rising global trade tensions. She emphasized the need for cooperation in tackling challenges such as protectionism, supply chain disruptions, and geopolitical conflicts to ensure a stable global economy. […]

China files complaint to WTO over Trump’s tariffs
News

China files complaint to WTO over Trump’s tariffs

China has lodged an official complaint with the World Trade Organization against U.S. President Donald Trump’s new 10% tariff on Chinese imports, arguing that the move is protectionist and violates WTO regulations. The complaint, filed on Wednesday, also challenges the revocation of a duty-free exemption for low-value packages, a decision that has disrupted supply chains […]

News

WTO, Asian bank launch minerals database

The Asian Development Bank and the World Trade Organization Secretariat have introduced the Trade in Critical Minerals database to improve transparency in the trade of minerals vital for the clean energy transition. Launched on November 20 at COP29 in Baku, the database offers policymakers, researchers, and stakeholders detailed information on trade flows, tariffs, and policies […]

Director-General of the World Trade Organization, Ngozi Okonjo-Iweala
News

Ngozi Okonjo-Iweala reappointed WTO DG

Nigeria’s former finance minister, Ngozi Okonjo-Iweala has been reappointed as the Director-General of the World Trade Organisation for a second term. This was disclosed by the WTO in an X post on Friday Effective from 2025, Ngozi Okonjo-Iweala will be leading the organisation as the first woman and the first African. “WTO members today agreed […]

News

WTO decries inspection hike at Nigerian ports, urges reforms

The World Trade Organisation’s Trade Policy Review organ expressed concerns about Nigeria’s customs procedures, particularly the high rate of physical inspections at ports, urging the country to improve its practices for greater efficiency and cost-effectiveness. It also noted that the long-standing import bans on numerous agricultural products, along with high tariffs and additional levies, could […]

WTO members rally behind Okonjo-Iweala for second term
News

WTO members rally behind Okonjo-Iweala for second term

The World Trade Organization has endorsed a proposal from the African Group urging Director-General Ngozi Okonjo-Iweala to seek a second four-year term. The WTO made this announcement in a statement released on its website on Monday, July 2024. During a meeting of the WTO General Council on July 22, the statement revealed, that these 58 […]

News

Illicit trade, a barrier to economic growth – WTO

The World Trade Organisation has said that illicit trade damages societies and hinders economic growth and development. This was revealed in a publication on fighting illicit trade in medical products by WTO on Monday. The organization stated that it not erode only legitimate companies but also encourages corruption and denies governments vital tax revenue for […]

World

Africa’s exports to grow by 5.3% in 2024 – WTO

World Trade Organization declared that exported goods from Africa are projected to grow by 5.3% on an annual basis in comparison with the rest of the world, according to the World Trade Organization’s trade outlook for 2024. According to the report, exports on the continent will be higher than they were before the onset of […]

News

African leaders must prioritise attracting investment to ECOWAS – Okonjo-Iweala

The Director General of the World Trade Organisation, Ngozi Okonjo-Iweala, has called on African leaders to attract investment, particularly in energy development, youth employment through agriculture and renewable energy, and infrastructural advancement. This was disclosed by Okonjo-Iweala at the Economic Community of West African States Investment Forum 2024, organised by the ECOWAS Bank for Investment […]

Global trade remains steady, but uncertainty looms—WTO
Business

Shea butter from Nigeria, others below global standards – WTO

By Melvin Onwubuke   The World Trade Organisation, charged Nigeria and other African countries to improve the quality of their shea exports, as a lot of the commodities do not meet the sanitary and phytosanitary measures required for export. This was disclosed by Director-General, WTO, Dr Ngozi Okonjo-Iweala, while delivering a virtual address at the […]

Global value chain important for job creation – Okonjo-Iweala
Business

Global value chain important for job creation – Okonjo-Iweala

      The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, has explained that the coronavirus pandemic has taught the world how important global value chains have become for job creation and inclusion. According to The PUNCH, she stated this at the ongoing World Bank/International Monetary Fund Spring meetings in Washington DC. She noted […]