The World Trade Organization (WTO) is an international organization regulating the rules of trade between nations. It was established in 1995, replacing the General Agreement on Tariffs and Trade (GATT.) It consists of 164 members.
The global COVAX program for developing and distributing coronavirus vaccines is $19 billion short of its $22 billion target this year, according to World Health Organization (WHO) head Tedros Adhanom Ghebreyesus.
World Trade Organization (WTO) chief Ngozi Okonjo-Iweala has called on countries to stop targeting China if they want cooperation on global reforms, claiming that putting pressure on Beijing will only get “resistance.”
Australia has launched a World Trade Organization probe into Chinese trade levies – hiked beyond 80 percent last spring – Canberra’s commerce chief said, as rising tensions between the two sides continue to spiral.
Speaking at the G20 summit on Saturday, Russia’s President Vladimir Putin called on world leaders to address the piled-up issues facing international trade, urging them to limit protectionism and abandon sanction practices.
Russian President Vladimir Putin has told G20 leaders that there is nothing to replace the World Trade Organization (WTO), but it should be able to cope with current challenges and needs modernization.