Home / Knowledge / News / Textiles / WTO chief calls for reform of trade body at Davos

WTO chief calls for reform of trade body at Davos

27
Jan '20
Pic: Shutterstock
Pic: Shutterstock
If the World Trade Organisation (WTO) has to deliver and perform its role, it has to be updated, its chief Roberto Azevêdo said at the World Economic Forum in Davos last week. “It has to be changed, it has to be reformed. This is an agenda that is squarely before members....I think they understand that the system has not been functioning properly in many areas," he said.

India and China have taken ‘tremendous advantage’ of their developing country status, according to President Donald Trump, who said at the same forum that he feels the United States too is a developing nation and he would discuss with World Trade Organisation (WTO) chief Roberto Azevêdo the issue of reforming the global trade body. Trump is scheduled to visit India next month.

“We have dispute running with the WTO for quite a while because our country has not been treated fairly. China is viewed as a developing nation, India is viewed as a developing nation, we are not viewed as a developing nation. As far we are concerned, we are a developing nation too. But they get tremendous advantages by the fact that they are considered developing and we are not. They shouldn’t be, but if they are, we are," Trump said.

“We are talking about a whole new structure about the deal. The WTO has been very unfair to the US for many many years. Without it, China wouldn’t be China. China would not be where they are right now. That is the vehicle that they used. Roberto and I have a tremendous relationship and we are going to do something. I think it would be very dramatic. He will be coming with a lot of his representatives to Washington sometime next week or the week after and we will start working on it," global newswires quoted Trump as saying.

Trump in the past also has targeted the special and differential status enjoyed by large developing countries like China and India under WTO rules, asking his trade representative to take necessary action.

The United States wants countries like China and India to give up their ‘developing country’ status given their rapid economic progress.

The US has already submitted a proposal at the WTO stating that as several developing countries like China and India have made significant strides in development, countries that are members of G20 or Organisation for Economic Co-operation and Development, as well as those classified by the orld Bank Was a high income country or those with 0.5 per cent share in world merchandise trade should not get special and differential treatment (S&D) benefits in trade negotiations.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Sep 2021

Australia, Bangladesh sign Trade and Investment Framework Arrangement

In a recent virtual ceremony, Bangladesh and Australia signed the...

Pic: Ministry of Foreign Affairs, the People's Republic of China

Textiles | On 16th Sep 2021

China urges US to initiate steps to repair damaged bilateral ties

China recently urged the United States to initiate steps to repair...

Pic: Shutterstock

Apparel/Garments | On 16th Sep 2021

Bangladesh seeks 12-year duty-free access to EU after LDC graduation

Bangladesh commerce minister Tipu Munshi is hopeful that the European ...

Interviews View All

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Klaus Bergmann,

Klaus Bergmann

German company Erbatech GmbH develops, designs and manufactures high end...

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search