News

Members to debate how Aid for Trade can address COVID-19 impact on developing countries

An informal meeting of the Committee on Trade and Development dedicated to the Aid for Trade initiative will be held to discuss how to take account of the trade and development challenges arising from the COVID-19 pandemic. WTO members will discuss how the WTO-led initiative can help developing economies recover from the COVID-19 crisis.

Members endorse Turkmenistan’s WTO observer status

At a meeting of the General Council, World Trade Organization (WTO) members agreed to grant Turkmenistan observer status in the organization. Turkmenistan, a state in Central Asia with a population of about 6.2 million, became the last former Soviet republic to establish a formal relationship with the WTO.

Uzbekistan resumes WTO membership negotiations

WTO members welcomed the resumption of WTO membership negotiations for Uzbekistan when the working party on the country’s accession to the WTO met on 7 July 2020—almost 15 years after its last formal meeting.

Members discuss reflecting impact of COVID-19 in WTO-led Aid for Trade initiative

World Trade Organization (WTO) members agreed to discuss how to reflect the impact of the COVID-19 pandemic in their future work and agreed to extend the current biennial Aid for Trade work program into 2022 when the next Global Review will also be held.

ADB, Mongolia sign projects for COVID-19 shock response, economic cooperation zone, solid waste management

The Asian Development Bank (ADB) and the Government of Mongolia signed three projects to lessen the socioeconomic impacts of the coronavirus disease (COVID-19) pandemic on poor and vulnerable groups in Mongolia, to help support Mongolia’s post-pandemic recovery by developing an economic cooperation zone, and improve solid waste management.

Joint statement by heads of multilateral development banks and the WTO on supporting trade finance during the COVID-19 crisis.

This statement was issued by the World Trade Organization and heads of multilateral development banks, including the President of the Asian Development Bank.

ADB to support economic cooperation zone for Mongolia

he Asian Development Bank (ADB) has approved a $30 million loan to develop and operationalize Mongolia’s Zamyn-Uud free zone, which is part of a proposed economic cooperation zone between the country and the People’s Republic of China (PRC).

ADB and Ipoteka Bank Partner to Support Trade in Uzbekistan

The Asian Development Bank’s (ADB) Trade Finance Program and Ipoteka Bank from Uzbekistan signed an agreement providing guarantees to support trade in the country.

New ADB tool offers roadmap to unblock supplies of life-saving products

ADB’s Trade Finance Program and Supply Chain Finance Program is helping resolve this through a new online tool which maps these supply chains, allowing governments, banks, investors, and healthcare professionals to pinpoint companies making these products and intervene to clear any blockages.

EBRD continues to deliver record levels of trade finance to emerging markets

Financing under its Trade Facilitation Programme topped half a billion euros in April for the first time in the EBRD’s history.