The foreign ministers of the bloc composed of Brazil, Russia, India, China and South Africa convened in Rio de Janeiro. They called out for increased representation of emerging countries with international organizations.
Browsing: WTO
The Middle East share of the world tourism market may increase from 6% to 8% by 2030, which amounts to 150 million tourists per year.
The United States government, which had been preventing Brazil from ing the organization, has now given its formal .
An index from the WTO shows growth falling short of medium-term trends, and the performance seen in the first three months of the year might repeat itself.
According to the WTO, global trade flows are poised to go up 2.6% in 2019, down from 3% in 2018, when it had already fallen short of expectations. Brazil lost one position on the ranking of leading exporting countries.
On the eve of the bloc’s summit, in Buenos Aires, OECD reported that exports rose only 0.3%, with imports up 0.7%, a reflection of protectionist measures taken by the member countries.
The World Trade Outlook Indicator, measured by the organization, is at 98.6 points, the lowest level since October 2016, which signals a possible slowdown in 2018’s last months.
Import-restrictive measures adopted by of the bloc, from May to October, have covered an amount of trade estimated in USD 481 billion, a new high.
The organization’s new forecast for growth in trade volume in 2018 went from 4.4% to 3.9% in face of the trade war between the United States and China and the volatility in exchange rates.
The average number of measures per month went from three to six amid the trade war triggered by United States president Donald Trump.
On the eve of the Annual Investment Meeting, in Dubai, the deputy director-general of the World Trade Organization, Yonov Frederick Agah, has said that a trade war and protectionism could undermine the sector’s growth.
