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WTO raises outlook for global trade in good sign for economy

Global commerce is set to grow by 4.7 percent this year, the World Trade Organization said on Monday, with recovery in rich economies expected to mitigate risks in developing nations. The WTO previously had forecast that trade would expand by 4.5 percent in 2014, up from an estimated rate of 2.1 percent in 2013. So the latest forecast points to substantially more than a doubling of the growth achieved last year. Trade is a key measure of the health of the global economy which it both stimulates and reflects.

Canada and Norway appeal WTO ruling backing EU seal ban

Norway and Canada have appealed a ruling by the WTO that backs a European Union ban on the import and sale of seal products, the Geneva-based body announced Monday. In a statement, the World Trade Organization said Oslo and Ottawa filed their appeals on Friday. In general, WTO appeal rulings are issued within three months. In November, the WTO disputes settlement body ruled that while there was merit in Norway and Canada's complaints over the 2010 EU ban, that was outweighed by the goal of addressing moral concerns about seal welfare.

WTO sets up panel to rule on Mexico-US tuna label feud

The WTO on Thursday set up a panel in a renewed attempt to settle a dispute over US "dolphin friendly" labels which allegedly hit imports of Mexican-caught tuna, trade sources said. The United States rejects Mexican charges that it has failed to fall into line with a 2012 ruling on the issue by the World Trade Organization's dispute settlement body. As a result, Mexico asked the Geneva-based WTO to set up what is known as a compliance panel to assess Washington's respect for the May 2012 decision.

WTO to hear SKorea complaint over US washer tarrifs

The WTO has been called in to settle a dispute between South Korea and the United States over duties the latter imposes on imported washing machines, trade sources said Thursday. The Geneva-based body, which polices respect for global trade accords in an effort to offer its 159 member economies a level playing field, set up a dispute settlement panel to rule on the issue. World Trade Organization rules allow member economies to slap duties on products which are "dumped", or sold at cut prices in order to grab market share, to the detriment of domestic industries.

WTO hails 'historic' first global trade agreement

Commerce ministers capped days of hard negotiations Saturday by approving a WTO agreement on international commerce they hailed as a "historic" boost for the trade body. The agreement falls far short of the World Trade Organization's lofty but elusive vision of tearing down global trade barriers through its frustrating, 12-year-old Doha Round of talks. But the accord reached on the Indonesian resort island of Bali nevertheless marks the first global agreement struck by the Geneva-based body since its 1995 founding.

News Analysis: WTO reclaims relevance with hard fought breakthrough on Doha Round

News Analysis: WTO reclaims relevance with hard fought breakthrough on Doha Round BALI, Indonesia, Dec. 7 (Xinhua) -- After more than a decade of negotiations and missed deadlines, the World Trade Organization ( WTO) has finally achieved a breakthrough in its marathon trade- liberalization negotiations as trade ministers clinched a deal after a prolonged meeting on the Indonesia resort island of Bali.

Deal to boost global trade reached at WTO summit despite eleventh hour objections from Cuba

BALI, Indonesia - A deal to boost global trade has been approved by the World Trade Organization's 159 member economies for the first time in nearly two decades, keeping alive the possibility that a broader agreement to create a level playing field for rich and poor countries can be reached in the future. WTO Director-General Roberto Azevedo shed tears during the summit's closing ceremony Saturday as he thanked host nation Indonesia, WTO member countries and his wife.

WTO hails 'historic' trade agreement

Commerce ministers capped days of hard negotiations Saturday by approving a WTO agreement on international commerce they hailed as a "historic" boost for the trade body. The agreement falls far short of the World Trade Organization's lofty but elusive vision of tearing down global trade barriers through its frustrating, 12-year-old Doha Round of talks. But the accord reached on the Indonesian resort island of Bali nevertheless marks the first global agreement struck by the Geneva-based body since its 1995 founding.

WTO hails 'historic' first global trade agreement

Commerce ministers capped days of hard negotiations Saturday by approving a WTO agreement on international commerce they hailed as a "historic" boost for the trade body. The agreement falls far short of the World Trade Organization's lofty but elusive vision of tearing down global trade barriers through its frustrating, 12-year-old Doha Round of talks. But the accord reached on the Indonesian resort island of Bali nevertheless marks the first global agreement struck by the Geneva-based body since its 1995 founding.

WTO hails 'historic' trade agreement

Commerce ministers capped days of hard negotiations Saturday by approving a commercial deal that the WTO hailed as a "historic" boost for the trade body and the world economy. The agreement falls far short of the World Trade Organization's lofty but elusive vision of tearing down global trade barriers through its frustrating, 12-year-old Doha Round of talks. But the accord reached on the Indonesian resort island of Bali nevertheless marks the first global agreement struck by the Geneva-based body since its 1995 founding.
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