World Trade Organization

The European Commission has unveiled plans for significant tariff hikes on grain imports from Russia and Belarus. The proposed tariffs, described as potentially functioning as de facto sanctions, aim to address growing concerns over the use of food exports as a geopolitical tool by Moscow while safeguarding EU markets and farmers.

A high-level WTO conference ended Saturday with a temporary extension of an e-commerce moratorium but no deals on agriculture and fisheries, throwing into doubt the effectiveness of the multilateral trade body.

The World Trade Organization Tuesday enshrined new rules facilitating trade in services between more than 70 member states, the European Union's trade commissioner said, despite initial objections from India and South Africa.

The set of rules will streamline authorisation requirements and ease procedural hurdles faced by businesses, according to a press release.

More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday.

Foreign Minister Hakan Fidan will attend the G20 foreign ministerial held by Brazil, which is running the term presidency of the group, where he will once again emphasize the need for quick global action to stop the ongoing massacres of Israel in Gaza.

Türkiye's foreign trade deficit declined by 32.6 percent in November from a year ago to $5.92 billion, the data from the Turkish Statistical Institute (TÜİK) have shown.

Exports climbed 5.2 percent year-on-year to $23 billion, while imports were down 5.7 percent compared with November 2022 to $28.9 billion.

Chinese carmakers are fast increasing their share in the Turkish market, but subsidies the Chinese companies receive from their government may lead to unfair competition, warns Baran Çelik, the board chair of the Uludağ Automotive Industry Exporters' Association (OİB).

Beijing has asked the United States, Japan and the Netherlands to confirm the existence of an alleged agreement between the three countries to curb semiconductor exports to China, state media reported yesterday.

Beijing's representatives issued the request during a regular meeting this week at the World Trade Organization (WTO), according to a state television broadcast.

In a resolution passed by 513 votes to 22, with 19 abstentions, MEPs called for additional sanctions, including an "immediate full embargo on imports of oil, coal, nuclear fuel and gas originating in Russia".

China has not adopted the rules of the World Trade Organization even after 20 years' membership, the United States said yesterday, adding that the world's second-biggest economy had "retained and expanded" its statist approach to the detriment of businesses and workers globally.