Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy’s Post

New approaches to market access cooperation UN Trade and Development highlights the need to go beyond tariff preferences – which have maxed out their potential to support development – to reach the goals set in the 1960s.

🌍 The World Trade Organization (WTO) conducts a comprehensive evaluation of 6 regional trade pacts, signaling potential shifts in global trade dynamics. 📊💼 Stay informed about the latest developments shaping international trade policies and agreements. https://lnkd.in/efMfMT2C #WTO #TradePacts #GlobalTrade #InternationalTrade #TradeAgreements #EconomicAnalysis #TradePolicy #TradeRelations Nayab Islam #serachengineoptimization #globalreach

World Trade Organization WTO e-Learning Maika Oshikawa Great job by WTO, I would proceed with following observations: 1. **Historical Accuracy**: - The WTO was launched in 1995, which means it is not yet 30 years old as of 2023; it is 28 years old. 2. **Broader Context of GATT**: - While the WTO was established as the successor to GATT, it should be noted that GATT continued to exist as the WTO's umbrella treaty for trade in goods. 3. **Inclusivity and Cooperation**: - The claim that the aim of the WTO was to create a new global order based on openness, inclusivity, and cooperation can be seen as somewhat idealistic. Critics argue that the WTO has often favored the interests of developed countries over those of developing nations. 4. **Trade in Services and Intellectual Property**: - The text states that the WTO covers trade in services and intellectual property, which is correct. However, it should also mention the agreements that govern these areas, such as the General Agreement on Trade in Services (GATS) and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). 5. **Impact on Living Standards, Jobs, and Lives**: - The assertion that the WTO helps members use trade to raise living standards, create jobs, and improve lives is a matter of debate. There are arguments both supporting and opposing the effectiveness of the WTO in achieving these outcomes, with critics pointing to issues like job displacement and negative environmental impacts. 6. **Growth Statistics**: - The statistics on trade growth should be verified with reliable sources. The claim that world trade in goods and services grew by an average of 5.8% per year and nearly fivefold over the period may require citation for accuracy. 7. **Comparison of Goods and Services Trade**: - The text notes that trade in commercial services outpaced goods trade, with specific percentages provided. These figures should be cross-referenced with official WTO or other credible economic reports to ensure their accuracy. In summary, while the text provides a positive overview of the WTO's impact, it should be balanced with a recognition of the various criticisms and verified with accurate data and sources.

When the WTO was created 30 years ago, the aim was to make a new global order, based on openness, inclusivity and cooperation. Established as the successor to the General Agreement on Tariffs and Trade (GATT), which mainly dealt with trade in goods, the WTO also covers trade in services and intellectual property, helping members use trade to raise living standards, create jobs, and improve lives. The 30 years since the signing of the Marrakesh Agreement have ushered in a new era of trade and economic growth. From 1995 to 2023, total world trade in goods and commercial services grew significantly, averaging 5.8% per year, nearly a fivefold increase. Notably, trade in commercial services outpaced goods trade, with an average annual increase of 6.8 per cent, compared to 5.5 per cent for goods. More: https://bit.ly/49Q3lIW #WTOat30

The 30 years since the WTO's creation have ushered in a new era of trade and economic growth. Between 1995 and 2023, total world trade — goods and commercial services — saw strong growth, averaging 5.8 per cent per year. This translates into an almost fivefold increase in world trade. We saw some decline in trade of goods during the pandemic time but still the economies stayed resilient to that period of time. It is a strong growth from 1995 to 2023 in global trade of goods and services.

🌍 The World Trade Organization (WTO) conducts a comprehensive evaluation of 6 regional trade pacts, signaling potential shifts in global trade dynamics. 📊💼 Stay informed about the latest developments shaping international trade policies and agreements. https://lnkd.in/efwtacN3 #WTO #TradePacts #GlobalTrade #InternationalTrade #TradeAgreements #EconomicAnalysis #TradePolicy #TradeRelations Nayab Islam #serachengineoptimization #globalreach

Trade in services is growing at an exponential rate, it will be interesting to see how the WTO formulates stronger policies that will bring African countries to the table in the coming years.

Congratulations ❣️ #WTO30 !. Indeed a healthy journey so far. World Trade Organization deserve appreciation followed by proportionate cooperation by member countries. Yet, this August Body have a long way ahead as new members joining regularly especially from #LDC region. Smaller, tiny nations must be given equal opportunity and voice to be heard and grievances redressed. Dispute Resolution Mechanism has to be further strengthened to deliver quality and timely justice to the parties. #Prevention should be the focus than Resolution. WTO must be #proactive. #Hegemonic tendencies have to discouraged, prevented. #Technology has shrunk the world into a big global village. #CommercialServices are going to dominate the future trade overtaking goods due to costs savings on manufacturing, logistics, inventory, imports, huge lands, buildings, machinery, energy, labor and so forth. The #knowledgeeconomy is going to boom for these obvious reasons. This sector need adequate support so that optimal realization of value is achieved. I #India stands firmly with #WTO on this auspicious day and far beyond. India 🇮🇳 will work for free, fair trade. #WTO3World Trade OrganizationonMinistry of Commerce and Industry, Government of Indiaia

The 4th Joint Committee meeting reviewed the ASEAN-India Trade in Goods Agreement in Malaysia, aiming to improve trade facilitation and benefit businesses, and finalized its Terms of Reference and Negotiating Structure. #4thjointcommittee #trade #Malaysia

The World Trade Organization is one organisation I hold to a high esteem; given the pinnacle of transparency exhibited by the unicorns leading the organization. Thank you WTO for this data. Hopefully I can take sometime out of my busy academic schedule in days comeing to offer a more country-based insights... My curiosity is to know the contributions of The West African Region in this trade report. I believe the outcome of my proposed research report can further highlight the Transformational roles of the ECOWAS Bank for Investment and Development (EBID), Nigerian Export Import Bank - NEXIM , Ghana Investment Promotion Centre, and other ECOWAS countries Trade councils and banks, identify limitations, and suggest key policy improvements options based on my findings. let's go digging. #Trade #Viral ECOWAS Bank for Investment and Development (EBID)