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. ..

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 ..

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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 ..

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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 ..

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United States shuts down WTO appeal court

The Appeal Court of the World Trade Organization that acts as trade dispute settlement body for the members was shut down by the United States on December 9, 2019. The seven-member body that was cut down to a 3-member body in 2018 is now completely blocked by the United States. Without WTO’s appellate body, the ..

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India appeals against WTO panel’s ruling on export promotion schemes

On 18 Nov, India appealed against a World Trade Organization (WTO) dispute settlement panel’s ruling that had recommended withdrawal of its key export subsidy schemes, including the one for special economic zones in the next 90-180 days. Recently, WTO had ruled that exports subsidy programmes Merchandise Exports from India Scheme (MEIS), Export Oriented Units Scheme ..

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