World Trade Organization

Turkey has been implementing a liberal foreign trade policy in full accordance with rules of the World Trade Organization (WTO) as opposed to some reports in the media about Russian goods, according to Ministry of Economy on March 17. 

"As of March 17, there are some inaccurate reports in both domestic and international press about restrictions on import of some Russian goods. 

BELGRADE - The Central European Free Trade Agreement (CEFTA) is one of the few successful regional initiatives with tangible results over the past 10 years and more, Serbian Minister of Trade Rasim Ljajic said Wednesday.

The CEFTA countries are Serbia's second largest foreign trade partner - second only to the EU - and Serbia now has a 2.1 bln euro surplus with the CEFTA countries.

China will defend its rights under World Trade Organization tariff rules if U.S. President-elect Donald Trump moves toward executing his campaign threats to levy punitive duties on goods made in China, a senior trade official said on Nov. 23.

The World Trade Organization on Sept. 27 revised down its 2016 global trade forecast by more than a percentage point, warning growth had hit its slowest pace since the global financial crisis.

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.     

The European Union will take the first step on Jan. 13 towards refashioning its trade ties with Beijing, torn over how to lower its defenses to avert Chinese retaliation while protecting key industries against a damaging flood of cheap imports. 

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.

World Trade Organization (WTO) member countries agreed to abolish agricultural export subsidies after five days of talks in Nairobi, but failed to make progress on the long-stalled Doha Round of negotiations aimed at lowering global trade barriers.

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."