Trade: 6 things to know about international trade this month

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Joachim Monkelbaan, Lead, Climate Trade, World Economic Forum 1. Trade growth to slow sharply in 2023, WTO says A slowdown in global trade growth is on the horizon. Higher energy and food prices are likely to combine with […]

This is what the future of logistics looks like

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Mohamed bin Thamer Al Kaabi, Minister of Transportation and Telecommunications, Kingdom of Bahrain In today’s globalized and interconnected society, modern consumers demand goods that are both affordable and readily available at a moment’s notice. This depends on reliable […]

EU exports under Free Trade Agreements surpass €1 trillion

This article is brought to you in association with the European Commission. EU trade deals mean increased exports, more stable economic relations and secure access to resources, a new report out today shows. EU exports to preferential partners for the first time surpassed €1 trillion in 2021, according to the Commission’s 2nd Annual Report on the […]

EU’s trade defence measures protect over 460,000 European jobs

This article is brought to you in association with the European Commission. Today, the European Commission published its Annual Report on the EU’s trade defence activities of 2021. The Report concludes that 462,000 EU jobs were directly protected by the EU’s trade measures in 2021 in key EU manufacturing sectors such as aluminium, steel, ceramics and […]

Commission helps resume trade in European pork and poultry to the Republic of Korea

This article is brought to you in association with the European Commission. As a result of intense high-level engagement between the European Commission and the Republic of Korea, EU countries can, as of today, export pork and poultry to the Republic of Korea more easily. The Ministry of Agriculture, Food and Rural Affairs of the Republic […]

EU wins WTO case against Turkey’s discriminatory practices on pharmaceuticals

This article is brought to you in association with the European Commission. The EU welcomes today’s appeal arbitration award by the World Trade Organization (WTO) in the case the EU brought against Turkey on pharmaceutical products. The appeal award confirms the Panel’s ruling and finds that the localisation measure discriminates against foreign pharmaceutical products, as it […]

For China and the EU, Cooperation is Our Only Right Way Forward

This article was written by Mr. Peng Gang, Minister and Head of Economic and Commercial Office of the Chinese Mission to the EU. The opinions expressed in this article belong to our distinguished writer. On July 19th, the 9th China-EU High-Level Economic and Trade Dialogue (HED), co-chaired by China’s Vice-Premier Liu He and Executive Vice-President […]

How trade can become a gateway to climate resilience

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Molly Harriss Olson, CEO, Fairtrade Australia and New Zealand Climate change is expected to severely hamper many sectors of global trade in the near future. But, if exporting countries adopt sustainable and climate-resilient practices, global trade can be […]

WTO 12th Ministerial Conference secures key outcomes on fisheries subsidies, pandemic response, WTO reform, food security and e-commerce

This article is brought to you in association with the European Commission. The EU welcomes the successful results in key areas of the 12th Ministerial Conference of the WTO concluded today, against a backdrop of heightened global trade tensions and a food security crisis caused by Russian’s unprovoked invasion of Ukraine. Trade Ministers of the 164-member […]

Post-trade evolution means looking to the digital financial assets of tomorrow

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Michael C. Bodson, President and Chief Executive Officer, Depository Trust & Clearing (DTCC) Digitalization offers post-trade market infrastructures an opportunity to help define a new market structure. Accelerating trade settlement to trade day plus one is one current […]

How ports can be transformed into energy hubs of the future

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Jacques Vandermeiren, CEO, Port of Antwerp To create fundamental societal change to mitigate the climate crisis, we need cross-sector collaboration and collective commitment. But lack of trust in modern society is increasingly hindering this type of approach. The […]

How trade facilitation can support supply chain diversity in a post-pandemic world

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Philippe Isler, Director, Global Alliance for Trade Facilitation; ExCom Member, World Economic Forum The pandemic has exposed vulnerabilities in the global supply chain. Developing economies have been hardest hit by this disruption. Public-private efforts can help deliver trade […]

Rethinking trade’s relationship to the fight against climate change

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Mari Elka Pangestu, Managing Director, Development Policy and Partnerships, World Bank Group Cross-border trade and better integrated economies will play a key role in the global fight against climate change. Developing economies need access to supply networks for […]

Trade and security: Commission highlights work to defend EU interests and values

This article is brought to you in association with the European Commission. The European Commission is today presenting key findings related to defending EU interests when it comes to export controls and foreign investments in the EU. The Commission screened 400 foreign investments since the new Foreign Direct Investment (FDI) screening legislation entered into force. While […]

Trade and sustainability: Commission proposes new EU Generalised Scheme of Preferences to promote sustainable development in low-income countries

This article is brought to you in association with the European Commission. Today, the Commission has adopted the legislative proposal for the new EU’s Generalised Scheme of Preferences (GSP) for the period 2024-2034. The Commission is proposing to improve some of the key features of the scheme to better respond to the evolving needs and challenges […]

Obsolete tech is clogging up global trade. Here’s how to unblock it

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Ryan Petersen, Founder, CEO, Flexport Outdated logistics systems are unable to keep up with increased demand for goods in the pandemic recovery. Both trade’s physical infrastructure and software systems are lagging behind. Digital technology can increase freight efficiency […]

EU-Republic of Korea trade grows twice as fast under trade agreement

This article is brought to you in association with the European Commission. The ten-year anniversary of the EU-Republic of Korea Trade Agreement comes with an impressive growth in bilateral trade of more than 50%, reaching over €110 billion. Trade in goods grew by 46% from 2010 to 2020, almost twice as fast as EU trade with […]

VAT: New e-commerce rules in the EU will simplify life for traders and introduce more transparency for consumers

This article is brought to you in association with the European Commission. New Value-Added Tax (VAT) rules for online shopping enter into force later this week as part of efforts to ensure a more level playing field for all businesses, to simplify cross-border e-commerce and to introduce greater transparency for EU shoppers when it comes to […]

EU proposes a strong multilateral trade response to the COVID-19 pandemic

This article is brought to you in association with the European Commission. Today, the EU has submitted its proposal seeking the commitment of World Trade Organization (WTO) members for a multilateral trade action plan to expand the production of COVID-19 vaccines and treatments, and ensure universal and fair access. With this proposal to the WTO, divided […]

Global trade after COVID-19: From fixed capital to human capital

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Alexis Crow, Global Head, Geopolitical Investing, PwC & Samir Saran, President, Observer Research Foundation (ORF) The current trade environment is in a state of flux – but globalization is proving to endure, despite the rising protectionism of the […]

How global trade can save lives and livelihoods – and help protect the planet

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Kate Whiting, Senior Writer, Formative Content New Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, joined the World Economic Forum Agenda Dialogues to discuss global trade. Dr Okonjo-Iweala said vaccine policy was crucial to helping the economic recovery […]

WTO deal is within reach to remove harmful fishing subsidies and halt global fish meltdown

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Gemma Parkes, Communications Lead, Ocean Action Agenda, World Economic Forum Every year, governments around the world pump $22 billion of public money into efforts that encourage overfishing. SDG 14 has explicit target to eliminate such harmful fisheries subsidies […]

4 ways to improve trade rules and support climate action

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Jeroen Ouwehand, Global Senior Partner, Clifford Chance& Matthew Layton, Global Managing Partner, Clifford Chance Climate change goals require urgent global action – drawing on the brightest minds and the latest clean technology. To support this, governments must introduce […]

Strong EU trade enforcement rules enter into force

This article is brought to you in association with the European Commission. Robust new trade enforcement rules have entered into force that will further strengthen the EU’s toolbox in defending its interests. With the update of the EU’s Trade Enforcement Regulation, the EU is able to act in a broader range of circumstances. The new rules […]

Panel of experts confirms Korea is in breach of labour commitments under our trade agreement

This article is brought to you in association with the European Commission. The panel report published today confirms the EU’s concerns that Korea has not acted consistently with its trade and sustainable development obligations under the EU-Korea trade agreement. The independent panel concluded that Korea needs to adjust its labour laws and practices and to continue […]

12 trade tasks to prioritize in 2021

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Sean Doherty, Head, International Trade and Investment, World Economic Forum & Kimberley Botwright, Community Lead, Global Trade and Investment SI, World Economic Forum The new director-general at the WTO will have a raft of challenges on their desk […]

Should trade continue to be global after the pandemic?

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Simon Cooper, Chief Executive, Corporate, Commercial and Institutional Banking, Standard Chartered Bank The advantages China offers will not become available closer to home and the costs of reshoring are high and often prohibitive. Opportunities for global trade will […]

5 ways the WTO can make investment easier and boost sustainable development

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Matthew Stephenson, Policy and Community Lead, International Trade and Investment, World Economic Forum The WTO is negotiating an international framework to facilitate investment for development. This effort was announced at the World Economic Forum in Davos in January. […]

Trade Barriers Report: EU continues to open up markets outside Europe in midst of rising protectionism

This article is brought to you in association with the European Commission. Thanks to the European Union’s successful intervention, European companies generated €8 billion in additional exports in 2019. The high number of new restrictions that hinder EU exports shows however that protectionism has become deeply ingrained in global trade. These are some of the findings […]

European Commission kicks off major EU trade policy review

This article is brought to you in association with the European Commission. Today, the European Commission launched a major review of the European Union’s trade policy, including a public consultation seeking input from the European Parliament, Member States, stakeholders and civil society. The Commission’s objective is to build a consensus around a fresh medium-term direction for […]

5 ways the digitisation of the global logistics industry can increase trade – and reduce poverty

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Henrik Hvid Jensen, Senior Blockchain Advisor, Trustworks Expanding global trade is essential to reducing poverty. Responsible, accelerated and affordable digitisation can facilitate global trade and sustainably reduce poverty. Five Logistic Internets can increase efficiencies and reduce costs for […]

Why exporters need to mind the trade finance gap

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Marc Auboin, Counsellor, Economic Research, World Trade Organization (WTO) & Violeta Gonzalez, Head, Partnerships, Outreach and Resource Mobilization, Enhanced Integrated Framework Executive Secretariat, World Trade Organization Trade finance is one of the top three export obstacles for half […]

Trade preferences boost developing countries’ exports to the European Union

This article is brought to you in association with the European Commission. Exports to the European Union from developing countries using special tariff preferences under the EU’s Generalised Scheme of Preferences (GSP) reached a new high of €69 billion in 2018. According to the European Commission’s report published every two years on the GSP, released today, […]