Nothing illustrates the crisis at the World Trade Organization more than the piling up of unresolved disputes and the growing list of what it terms the "trade concerns" of its members. Since late 2019, after the U.S. blocked the appointment of new judges to the WTO's Appellate Body due to complaints over judicial overreach, 29 cases have been left in limbo, delivering a heavy blow to the dispute settlement system. Those depositing cases include China, Dominican Republic, India, Indonesia, Morocco, Pakistan, South Korea and the United States. "No more fraud, no more pretending you're appealing,” former deputy director-general Alan Wolff told a WTO conference last month, urging countries to hold off on fresh appeals from 2024, when WTO members have pledged to address the issue. The WTO has warned a "polycrisis" of pandemic, military conflict in Ukraine and inflation is sapping faith in globalisation. The result is a growing disregard for global trading rules among WTO members. … [Read more...] about At WTO, growing disregard for trade rules shows world is fragmenting
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Vietnam gets 41.2 million USD in emission reduction payments
Vietnam has received 41.2 million USD, equivalent to 80% of the total funding, from the World Bank for 10.3 million tonnes of CO2 as a result of its efforts to reduce carbon emissions in deforestation and forest degradation until 2025.(Photo: kinhtenongthon.vn) Hanoi (VNA) – Vietnam has received 41.2 million USD , equivalent to 80% of the total funding, from the World Bank for 10.3 million tonnes of CO2 as a result of its efforts to reduce carbon emissions in deforestation and forest degradation until 2025, according to Director of the Forestry Department under the Ministry of Agriculture and Rural Development (MARD) Tran Quang Bao. At a workshop held in Hanoi on September 27, Bao said under the Emission Reductions Payment Agreement (ERPA) signed between Vietnam and the World Bank’s Forest Carbon Partnership Facility (FCPF) in October 2020, Vietnam could receive up to 51.5 million USD if the country is able to reduce 10.3 million tonnes of carbon dioxide emissions from six … [Read more...] about Vietnam gets 41.2 million USD in emission reduction payments
Ba Ria-Vung Tau strives to become national marine economic hub
By 2050, Ba Ria-Vung Tau will strive to become a national marine economic hub and a maritime logistics centre of Southeast Asia. (Photo: baobariavungtau.com.vn) Ba Ria-Vung Tau (VNA) – With advantages in terms of landscapes, developed seaports, transport infrastructure connectivity, and potential for industrial development, the southern province of Ba Ria-Vung Tau is striving to become a national marine economic hub . The province boasts a long coastline with flat clean beaches, well-known historical cultural sites, and traditional festivals, which are favourable conditions to promote its tourism. Moreover, the province locates next to major economic hubs and populous localities in the Southeastern region with a market of over 18 million people and per capita income being 1.5 times higher than the country’s average. Cai Mep-Thi Vai Deep-water port in the province is the region’s gateway to the East Sea. It is one of the 20 large ports in the world, capable of … [Read more...] about Ba Ria-Vung Tau strives to become national marine economic hub