Search Result for : Global Trade Growth

The Dollar Business Bureau The South Asia Subregional Economic Cooperation (SASEC) family congregated in New Delhi on April 3, 2017, to deliberate upon a new direction for sub-regional economic cooperation among the member countries. During the meet, the finance ministers collectively agreed that enhanced regional cooperation could add $70 billion to their combined GDP and generate 20 million employment opportunities annually by 2025. The SASEC initiative was founded in 2001, with India, Nepal, Bhutan and Bangladesh as member nations. Over the years, the regional group has grown to include Sri Lanka, Maldives and Myanmar. A joint ministerial statement released after the summit recognised the importance of regional co-operation to boost economic growth in South-Asia, especially in times of slow global growth. Additionally, it also reviewed the progress of SASEC over the past 16 ...

PTI The European Union today said it is ready to accommodate more Indian IT professionals and denounced any form of protectionism in global trade, amid anxiety in India over the Trump administration's possible clampdown on H1B visa. Pushing for deeper trade ties with India, a delegation of European Parliament's Committee on Foreign Affairs also expressed "regret" over the failure by both sides to resume the stalled dialogue to firm the long-pending EU-India trade and investment pact. Criticising the new US government's protectionist rhetoric which triggered fears in Europe as well, head of the delegation David McAllister said Europe is "open" for allowing more Indian professionals who are high on demand. "Europe is open for people with high demand. Indian people are ...

The Dollar Business Bureau The World Trade Organisation (WTO) has changed its previous forecast of global trade growth of 3.9 per cent, thus reflecting a new estimate of 1.7 per cent. The intergovernmental organisation, which had forecasted a 2.8 per cent rise for the same in September 2015, has attributed this decline to factors such as reduction in commodity prices and a slowdown in the Chinese and European economies. The organisation has released a similar forecast for the year 2017 with an estimated figure for global trade between 1.8 per cent and 3.1 per cent. The earlier figure stood at 3.6 per cent. According to WTO Director-General Roberto Azevedo, the revised data should act as a reminder to the governments which should not end up ...

PTI The world's top 20 economies on Sunday agreed to improve international trade governance in view of the global slowdown due to increasing anti-trade measures that have become more universal since 2009. G20 nations, which account for 85 per cent of the world trade, would remain committed to an open global economy, and will further work towards trade liberalisation and facilitation, said a statement released following the two-day G20 Trade Ministers Meeting in Shanghai. The World Trade Organisation (WTO) statistics showed that global trade growth has slowed significantly since 2008, from an average of over 7 per cent per annum between 1990 and 2008, to less than 3 per cent between 2009 and 2015. Last year marked the ...

The Dollar Business Bureau WTO chief Roberto Azevêdo speaking at Trade Policy Review Body, 8 December 2014   Roberto Azevêdo, Director-General, World Trade Organisation (WTO), has expressed concerns over increasing trade restrictive measures and has urged members to provide information over trade practices and reduce restrictions to help global trade recover. According to WTO estimates, global trade growth is expected to slowdown to 3.1% (down from previous forecast of 4.7%) in 2014 and recover slightly to 4% 2015. “Against this backdrop, recent trends in trade policy actions of members are a cause for concern,” Azevêdo said. He was referring to the increase in trade restrictions reported in the WTO’s annual report on “Developments in the International Trading Environment”.   While introducing ...