With two days to go for the Twelfth WTO MC12, global attention will soon shift to Geneva to see whether the WTO can deliver on pressing global trade issues. MC12 will be held in the backdrop of conflict, severe debt distress, rising food and oil prices and volatility in
With under two weeks to go for the Twelfth WTO MC12, global attention will soon shift to Geneva to see whether the WTO can deliver on pressing global trade issues. MC12 will be held in the backdrop of conflict, severe debt distress, rising food and oil prices, and volatility
Since the last meeting of the General Council of the WTO in late February, the Ukraine conflict has taken centre stage in international affairs. Spillovers of the political tensions have adversely affected progress on trade negotiations inside the WTO. The conflict has also brought renewed attention to the risks of a
India’s new Foreign Trade Policy, scheduled to be released by the end of September 2022, has been deferred till the next financial year. The Department of Commerce has been restructured, establishing distinct verticals for different formats of trade negotiations. The two new broad divisions will now be a Trade Negotiations Bilateral
The Prime Minister of Bangladesh, Sheikh Hasina, was on a four-day visit to India and held bilateral talks with the Indian Prime Minister Narendra Modi to review and strengthen the relationship between both nations. After many informal talks held since 2018, Bangladesh finally agreed to start negotiations on a Comprehensive Economic Partnership
Crude oil prices typically fluctuate based on seasonal demand and supply. Global supply and prices are also affected greatly by geopolitical conflict and civil unrest. Most recently, the COVID-19 pandemic caused crude price changes through a drop in demand. Oil prices are more volatile today due to many factors such as
Russia’s war on Ukraine began in February, 2014 and escalated following a full-scale invasion in February, 2022. Russia and Ukraine combined have a significant share in global supplies of oil, gas and other commodities such as wheat, sunflower oil. Thus, this war has adversely impacted their supply chains across the
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional initiative that was established on 06 June 1997 with the signing of the Bangkok Declaration. It aims to accelerate shared growth and cooperation between and among littoral and adjacent countries in the Bay of Bengal
Trade has helped increase the number and quality of jobs in developing countries and stimulated economic growth. Trade integration is important not only because of the boost to growth that it can provide but also because there is room for it to be executed in ways that more effectively overcome
Expansion in global trade has beneficial effects on climate change as it promotes efficient use of scarce resources and avoids wastage. Also, global trade provides market access which opens paths for developing new products and services to mitigate climate change. Various international bodies, such as the World Trade Organisation, the United
Food security refers to the availability of food and one’s access to it; trade plays an important role in ensuring a nation’s food security. Trade can be viewed as connecting nations with plenty of food with those that do not have enough. In that context, stabilising the interconnectedness aids food
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