World government

The World Trade Organization on Sept. 21 boosted its forecast for global trade growth in 2017 as commerce rebounded strongly, but cautioned that major threats could still derail the positive trajectory.     

BELGRADE - Serbia's membership in the World Trade Organisation (WTO) has been on hold for years due to the 2009 law on GMOs, which is also slowing down the country's EU accession process, a Belgrade conference was told on Tuesday.

Customs and Trade Minister Bulent Tüfenkci has backed the World Trade Organization's (WTO) first-ever multilateral trade agreement, saying it would help developing countries boost their exports.        

In a wide-ranging interview with Bloomberg News Editor-in-Chief John Micklethwait in New York on Friday that touched on topics from women’s issues to Brexit, International Monetary Fund’s managing director made it clear that politicians need to develop new ways of promoting open markets that rely on small trade deals, helping those who feel left out.

The World Trade Organization on April 7 revised its 2016 global trade forecast downward by more than one percentage point, warning that a slowdown in China and broad market volatility continued to threaten growth.

In September, the WTO estimated that global trade would rise by 3.9 percent this year, but lowered that projection to 2.8 percent, in an updated forecast.     

Ankara could take measures to counter Russian sanctions against Turkey on a global level Turkish Economy Minister Mustafa Elita? has signaled after the sanctions came into effect with the new year. 

"We'll use our rights in line with World Trade Organization (WTO) rules," Mustafa Elita? said in a meeting to release 2015 export figures on Jan. 4. 

The 10th WTO Ministerial Conference, gathered in Nairobi since Tuesday, agreed on Sunday on a global trade deal that benefits developing countries in Africa and around the world by getting rid of trade distorting export subsidies in agriculture. As regards EU producers, they will for the first time see a level playing field in export competition, a key priority for EU negotiators.

Serbia's chief negotiator with the EU says WTO membership is "required for the country to join the European single market as a credible partner."

Russia's trade sanctions against Turkey are a violation of the General Agreement on Tariffs and Trade (GATT), said a Turkish retired diplomat experienced in trade affairs, noting that the World Trade Organization could punish Moscow for its actions.

Prime Minister Ahmet Davutoğlu called for a more inclusive Group of 20 forum on Nov. 14, saying it would give lower-income nations a stronger voice when Turkey takes over the presidency for 2015.