WTO-related activities in July 2022
Activity resumed in the WTO following the conclusion of the Twelfth Ministerial Conference in mid-June. A summary of the most important activities is provided hereunder.
Report on trade-related developments covering mid-October 2021 to mid-May 2022
The WTO published its mid-year report assessing the development of international trade. The WTO indicated that more trade-facilitating than trade-restrictive measures had been adopted during the period under review. Many COVID19-related measures had been removed during that period. However, many new trade-restrictive measures had been adopted following the start of the war in Ukraine. At the end of the period, “8.9% of global imports [equivalent to USD1.9 trillion] continued to be affected by import restrictions”, the report states.
The WTO continues to help Members resolve disputes
Contrary to the idea of paralysis, the WTO Dispute Settlement Mechanism continues to contribute to resolving trade-related disputes among members. In July, the US and Korea notified the WTO that they continued discussions to find an amicable solution to the dispute relating to the imposition of safeguard measures on imports of large residential washers. In February 2022, a panel had found that the US measure was inconsistent with certain provisions of the WTO Safeguards Agreement.
The decision of the arbitrator in the US-Canada dispute concerning the US countervailing measures on paper was published. The arbitrator determined the formula based on which Canada can determine the level of the suspension of concessions due to the US failure to bring the countervailing measure in conformity with WTO obligations.
Finally, on July 25, 2022, the arbitrators issued the outcome to the appeal of the panel findings in the EU-Türkiye pharmaceuticals dispute. The arbitrators determined that Türkiye violated Article III of GATT 1994 and that the challenged measure was not justified under Article XX of the GATT 1994.
WTO visits Ashgabat and Dili to talk about accession negotiations
Senior management of the WTO has been in the capitals of two acceding countries to present events and discuss the development of their WTO accession negotiations. In Turkmenistan, WTO Deputy Director General Zhang met, among others, with Mr Muhammetguly Muhammedov, Deputy Chairman of the Cabinet of Ministers for Finance and Economy, and H.E. Mr. Rashid Meredov, Deputy Chairman of the Cabinet of Ministers and Minister for Foreign Affairs. Turkmenistan has started the preparation of the Memorandum on Foreign Trade Regime.
Members come back to the negotiating table
WTO Members negotiating possible future agreements on digital trade and on investment facilitation and various environmental initiatives have met in July to take stock of the June Ministerial Conference, plan work and objectives for the second half of 2022.
Trade Policy Review of Moldova
The review of the trade policy regime of Moldova has been completed. The WTO Secretariat report detailing the developments during the past 5 years is available by clicking at the following link: https://www.wto.org/english/tratop_e/tpr_e/s428_e.pdf.