WTO fails to adopt Trade Facilitation Agreement

‘Last night’s failure to reach an agreement is highly regrettable. Everything we achieved in Bali may now unravel, putting multilateral trade negotiations on hold,’ said Foreign Minister Børge Brende.  

The Agreement on Trade Facilitation was reached at the ministerial meeting in Bali last December and scheduled to be adopted by 31 July. It was intended to be a significant step forward in removing global trade obstacles, especially for developing and small countries. The Bali Ministerial Conference was crucial for the WTO, but it was only the first step in convincing the world that WTO members could, after nearly 20 years, agree on and then implement substantive global trade reform. 

‘This serious setback compromises the growth and development opportunities of the vast majority of both developed and developing countries on all continents. The solution is not to abandon the WTO, but to find ways of making it work. Norway reaffirms its commitment to the multilateral trading system and will continue to work hard to maintain and strengthen it,’ said Mr Brende.

 

Related news

Latest news

USCG confirms OPtimarin in Line for Ballast Water Approval

The United States Coast Guard (USCG) has confirmed that Norwegian ballast water treatment specialist Optimarin has become the first supplier to submit an application for type approval.

New order for Servogear

Servogear announces that they have received a new order from Brødrene Aa. 

Norwater AS reports boost in sales

The Norwater team reports of great interest and busy days in 2016. In a press release, they state that as of the first 8 months of the year, 2016 sales are already beyond target for the year as a whole.

Gaia-facts reaching ground control

The European Space Agency (ESA) has released the first data from the Gaia mission, which has the tremendous task of building the most precise 3D map of the Milky Way.

Polish delegation for Norwegian circular waste management

Against the background of the EU's ambitious waste management targets, Norwegian and Polish stakeholders met on Wednesday 14 September in Drammen.

Milestone at Mongstad Water Treatment Plant

SAR AS reports that an extensive upgrade to the water treatment plant at Mongstad reached a new milestone July. 

Servogear signs new contract with Özata Shipyard

Servogear has announced the signing of a new contract with Özata Shipyard in Turkey. The contract includes the delivery of Servogear Ecoflow PropulsorTMfor two 39 meter passenger catamarans (YN 41 & YN 42).

Statoil and Petrobras strengthen strategic partnership

Statoil reports that they have strengthened their cooperation in Brazil by signing a Memorandum of Understanding (MoU) with Petrobras.

TechInvent and Island Offshore/Centrica announced winners of ONS Innovation Award

TechInvent and Island Offshore/Centrica were announced winners of the ONS 2016 Innovation Awards, at the Innovation Awards Ceremony Tuesday 30 August.