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Argentina challenges EU over biofuels

Agence France-PresseMay 15, 2013 12:45
Argentina has launched a new challenge to the European Union over the bloc's rules on the import of biofuels, the World Trade Organization said Wednesday. "Argentina has notified the WTO Secretariat, on May 15, of a request for consultations with the European Union on measures imposed by the EU and/or its Member States that affect the importation and marketing of biodiesel and implementing measures as well as measures supporting the biodiesel industry," the Geneva-based body said in a statement.

EU warns China of telecoms probe

Agence France-PresseMay 15, 2013 08:46
The EU has alerted China to its decision to launch an anti-dumping and anti-subsidy probe involving the mobile telecommunications networks sector, Trade Commissioner Karel De Gucht announced on Wednesday. "The European Commission has today taken a decision in principle to open an ex officio anti-dumping and an anti-subsidy investigation concerning imports of mobile telecommunications networks and their essential elements from China," a statement said.

Brazil's Roberto Azevedo endorsed as next head of the World Trade Organization

The Canadian PressMay 15, 2013 04:41
Brazilian Ambassador Roberto Azevedo has been endorsed as the next director-general of the U.N. World Trade Organization by its General Council. U.N. Secretary-General Ban Ki-moon welcomed Azevedo's appointment Tuesday, saying it is "important and timely at this critical juncture in the world economy." He said Azevedo, who has been Brazil's ambassador to the Geneva-based organization for the last five years, "is well placed to ensure that the WTO will continue its important work to develop an open, rule-based, predictable and non-discriminatory trading system."

Global economies on the mend, OECD says

Agence France-PresseMay 14, 2013 14:16
Global economies are on the mend, but growth is likely to remain below trend in India, the OECD said on Tuesday. Looking at major global economies, an OECD statement said that "growth is returning to trend" in China, while in the United States the OECD's composite leading indicator (CLI) "continues to point to economic growth firming." In the 17-nation eurozone, the CLI indicated "a gain in momentum," although no detailed growth forecasts were issued.

Brazilian Azevedo vows to revive WTO

Agence France-PresseMay 14, 2013 12:03
Brazil's Roberto Azevedo vowed to revive the deadlocked World Trade Organization, as he was confirmed Tuesday as the incoming leader of the body which sets the rules for global commerce. "I have been working in and with this organisation continuously for the last 15 years," Azevedo, still officially Brazil's WTO ambassador, told the 159-country organisation's assembly which approved him by consensus as its next leader.

Brazilian Azevedo vows to revive WTO

Agence France-PresseMay 14, 2013 09:02
Roberto Azevedo of Brazil on Tuesday vowed to revive the deadlocked World Trade Organization, as he was confirmed formally as the incoming leader of the 159-nation body which sets the rules for global commerce. "I have been working in and with this organisation continuously for the last 15 years," Azevedo, still officially Brazil's WTO ambassador, told a session of its ruling General Council which approved him as its next leader.

Canada hails new WTO chief, urges fighting protectionism

Agence France-PresseMay 13, 2013 11:05
Canada welcomed Wednesday the appointment of Brazilian diplomat Roberto Azevedo to head the World Trade Organization, urging him to fight the threat that protectionism poses to the global economic recovery. "I would like to congratulate Ambassador Azevedo on his appointment as director-general of the WTO and offer him Canada's full support during this critical time in the organization's history and in our global economy," Canadian Trade Minister Ed Fast said in a statement.

Brazil's Azevedo becomes first Latin American to head WTO

May 11, 2013 17:08
By Tom Miles GENEVA (Reuters) - Brazil's Roberto Azevedo has won the race to become the next head of the World Trade Organization, the first candidate from the BRICS club of emerging economies to take the job. The career trade diplomat now faces a huge challenge to reinvigorate the global body, which has failed to wrap up the Doha trade liberalization talks after years of stalemate and risks becoming irrelevant without a breakthrough.

China targets hot money inflows with new forex rules

May 8, 2013 17:25
By Gabriel Wildau SHANGHAI/BEIJING (Reuters) - China has released new rules to curb currency speculation amid signs that hot money inflows have helped push the yuan to a series of record highs in recent weeks. The rules tighten limits on long yuan positions that banks can hold for their own accounts and aim to discourage firms from using dollar loans as a means to speculate on yuan gains.

Incoming WTO director seeks to rescue 'negotiating pillar' of organization

The Canadian PressMay 8, 2013 17:00
GENEVA - The incoming head of the World Trade Organization says his first priority will be to try to rescue its credibility as a forum for trade negotiations. Brazilian Ambassador Roberto Azevedo told a packed room of reporters at Brazil's WTO mission Wednesday that "the negotiating pillar of the WTO is clearly stuck." At the WTO, diplomats and officials congratulated Azevedo on his selection as WTO director general for the next four years. Azevedo also said it is important to close "the gap" between the WTO's rules and how things really are between trading nations.
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