The World Trade Organization (WTO) on 30 September 2015 released its 2015 Annual Report. It provided an overview of WTO activities in 2014 and early 2015.
Besides, it also provided recent trade scenario across the world and the expected growth rates for near future.
Highlights of 2015 Annual Report
• World trade will grow by 2.8 percent in 2015 against 2.5 percent growth in 2014. However the growth rate could be pegged back further by a U.S. interest rate rise, China's economic slowdown or Europe's refugee crisis.
• In 2016, world trade is expected to grow by 3.9 percent, a revision of the WTO's previous forecast of 4.0 percent.
• Forecast for growth in Asian imports in 2015 is pegged at 2.6 percent down from a 5.1 percent projection in April and Asian exports to 3.1 percent from the previous 5.0 percent forecast.
• Seychelles was admitted as the 161st Member of WTO in April 2015.
Report with respect to India
• Between 1995 and 2014, India is involved in 43 trade disputes next to the highest involvement (within Asia) recorded by China (44).
• Within WTO, India undertook second highest anti dumping initiations, 13, next to Brazil (29)
• India initiated the most investigations in 2014, with seven, followed by Indonesia and Turkey with three. India also imposed the greatest number of final measures – four.
• As of 31 December 2014, Ujal Singh Bhatia is the only Indian in the seven member Appellate Body.
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