November 7, 2011
G20 Calls for "Fresh, Credible Approaches" on Doha Round
Meeting in Cannes on November 3-4, G-20 leaders called for new pathways to complete the Doha Round. In their communiqué, leaders said that "We stand by the Doha Development Agenda (DDA) mandate. However, it is clear that we will not complete the DDA if we continue to conduct negotiations as we have in the past... To contribute to confidence, we need to pursue in 2012 fresh, credible approaches to furthering negotiations, including the issues of concern for Least Developed Countries...Furthermore, as a contribution to a more effective, rules-based trading system, we support a strengthening of the WTO, which should play a more active role in improving transparency on trade relations and policies and enhancing the functioning of the dispute settlement mechanism." In the lead-up to the G-20, some leaders, particularly Australian Prime Minister Gillard, had called for new, creative ideas for moving Doha forward.
For a copy of the communiqué, click here: http://www.g20.org/Documents2011/11/Cannes Leaders Communiqué 4 November 2011.pdf.
WTO: Global Services Exports Grow 9%
Global exports of commercial services reached $3.6 trillion in 2010, a recovery of 9% from the downturn experienced in 2009, according "International Trade Statistics 2011," the World Trade Organization's annual compendium of global trade in goods and services. Global exports of services such as transport and finance remain below pre-crisis levels despite a rapid recovery in 2010. Other sectors, however, such as computer and information services, rose to US$215 billion in 2010, US$ 15 billion higher than in 2008. Global receipts of royalties and license fees reached US$ 245 billion in 2010, US$20 billion higher than in 2008. For a copy of the WTO's report, click here:http://www.wto.org/english/res_e/statis_e/its2011_e/its11_toc_e.htm.
In addition, on October 31, the WTO released for the first time a series of quarterly and monthly statistics on international trade in commercial services. According to these latest statistics, world exports in commercial services increased by 16% in the second quarter of 2011 compared to the same quarter of 2010.
World exports of commercial services by selected region, Q1-Q2 2011
(% change, year-on-year)
Source: WTO. Balance of payments basis. Statistics are current price numbers, not seasonally adjusted. For more information, click here:
http://wto.org/english/news_e/news11_e/stts_31oct11_e.htm