WTO News

1. Israel formally accepts Agreement on Fisheries Subsidies

   Israel deposited its instrument of acceptance of the Agreement on Fisheries Subsidies on 22 January. The Minister of Economy and Industry, Nir Barkat, presented Israel’s instrument of acceptance to Director-General Ngozi Okonjo-Iweala in Davos on the side lines of the World Economic Forum Annual Meeting.

2. EU initiates dispute complaint regarding Chinese patent licensing measures

   The European Union has requested WTO dispute consultations with China in regard to Chinese measures concerning patent licensing terms. The request was circulated to WTO members on 22 January.

3. Over 80 per cent of global merchandise trade is on most-favoured-nation basis

   The WTO’s non-discriminatory “most-favoured-nation” (MFN) trading principle, whereby WTO members extend any trade advantage granted to one trading partner to all other partners, remains a cornerstone of global trade. More than four-fifths of international merchandise trade is conducted on this basis despite the proliferation of preferential trade agreements and other trade measures, as demonstrated by a recent WTO working paper.

4. Viet Nam and United States notify mutually agreed solution in fish duties dispute

   On 17 January, Viet Nam and the United States submitted a notification to the WTO’s Dispute Settlement Body of a mutually agreed solution in dispute DS536, “United States — Anti-Dumping Measures on Fish Fillets from Viet Nam.” The notification was circulated to WTO members on 21 January.

5. Heads of WTO, WCO sign agreement to boost cooperation on trade and customs matters

   The WTO and the World Customs Organization (WCO) signed a Memorandum of Understanding (MoU) on 21 January to enhance cooperation and collaboration on customs-related matters. The MoU was signed by Director-General Ngozi Okonjo-Iweala and WCO Secretary General Ian Saunders on the sidelines of the annual World Economic Forum in Davos.