World Trade Organization Current Affairs, GK & News

World Trade Organization

The WTO is an inter-governmental organization for governments to negotiate global trade agreements and progressively liberalizing trade. Currently, WTO has 164 members. The WTO operates a system of trade rules that apply to all its members. The WTO is also a place for Member governments to settle their trade disputes. Its located in Geneva, Switzerland. ..

..Read More

National Time Release Study (TRS) 2022

The Central Board of Indirect Taxes and Customs (CBIC) has recently presented a set of Time Release Studies (TRS) that have been conducted by the department. TRS is a tool for performance measurement and assesses the international trade’s cargo clearance process. Overview: The World Trade Organization (WTO) recommends the TRS under the World Customs Organization ..

Month: 

Category: 

Topics: 

WTO Projection on Global Trade Growth

The World Trade Organization (WTO) has revised its global trade growth forecast this year from 4.7 percent to 3 percent due to the impact of the Russia-Ukraine war. The WTO has also warned about a potential food crisis that might be caused price surges. Overview: This WTO report has stated that the conflict which is ..

Month: 

Category: 

Topics: 

China’s Lithuania Blockade

The Chinese Government recently launched import sanction on Lithuania. This means the Chinese companies should not import goods or raw materials from Lithuania. Earlier in 2021, Lithuania had recognised Taiwan as an independent state and had opened a Taiwan office in its soil. According to China, Taiwan is its integral part. The Chinese are doing ..

Month: 

Category: 

Topics: 

October 7: World Cotton Day

On October 7, 2020, the second World Cotton Day was celebrated. The initiative was first hosted by Cotton-4, World Trade Organization, United Nations Food and Agriculture Organization, United Nations Conference on Trade and Development and International Trade Centre. The event is led by WTO on the request of C4 countries World Trade Organization Cotton is ..

Month: 

Category: 

Topics: 

WTO members fail to agree on an interim leader due to political differences

The World Trade Organization has not been able to select a caretaker chief due to an impasse among the members who must agree by November on a replacement for the outgoing Director-General Roberto Azevedo. It has been reported by the organization based in Geneva, Switzerland. Details The WTO is unlikely to able to fill the ..

Month: 

Category: 

Topics: 

BRICS Foreign ministers to attend COVID-19 meeting

The foreign ministers of the BRICS grouping are to discuss on measures to combat COVID-19. External Affairs Minister Shri S Jaishankar is to represent India at the meet. Highlights The video conference is to be hosted by Russia as it is the current rotating head. The ministers are to discuss possible joint measures to fight ..

Month: 

Category: 

Topics: