Meeting for the first time in Latin America, the World Trade Organization’s 11th Ministerial Conference will take place in Buenos Aires from 10-13 December. Central to this year’s talks will be an international deal to curb harmful fishing subsidies. These are government payments or tax breaks that contribute to overcapacity, overfishing and illegal fishing (IUU) globally.
European Union (EU) Trade Commissioner Cecilia Malmström said Monday in Madrid that the EU bloc “hopes to announce a political agreement for this Christmas in Buenos Aires” with Mercosur “even though technical aspects remain to be discussed.”
“Until when will we allow ideology to prevail over economics, markets, competitiveness grounding the great vessel of Brazilian trade in the port of little regional pretensions”, asks Katia Abreu in a column published in Folha de Sao Paulo openly criticizing the administration of Dilma Rousseff for its Mercosur policy and the results of the recent Montevideo summit.
Brazil's Roberto Azevedo has won the race to become the next head of the World Trade Organization, the first candidate from Latinamerica and from the BRIC club of emerging economies to take the job.
WTO Director General Pascal Lamy warned that 2013 could turn out even weaker than expected, especially because of risks from the Euro crisis as countries might try to restrict trade further in a desperate attempt to shore up domestic growth.
The United States launched on Monday a new trade case against Chinese auto and auto-parts subsidies as President Barack Obama stumped for votes in Ohio, an auto manufacturing state that could be decisive in the November presidential election.
Europe's trade chief threatened to take Russia to the World Trade Organization over a string of restrictive practices, saying Moscow needed to play by the rules now it was a member of the global body.
Argentina's trade surplus rose to 1.64 billion dollars in August, more than double the surplus in the same month a year ago achieving the twelve months target four months ahead, President Cristina Fernandez announced on Thursday.
The Brazilian government approved a 25% tariff increase on an additional list of 100 goods from outside Mercosur and at the same time announced the implementation of a monitoring scheme for those items’ prices in the domestic market to avoid unduly increases.
Argentina has filed its third trade complaint in two weeks, the World Trade Organization said on Monday, challenging US laws that it says have blocked imports of fresh lemons from north-west Argentina.