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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

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

The EU official began implementing the transition period of the Carbon Border Adjustment Mechanism ( CBAM ) from October 1. As a result, iron and steel, cement, and fertiliser manufacturers in Vietnam are required to report total verified greenhouse gas (GHG) emissions embedded in goods exported to the EU. At an event on green steel production at the end of September, Nghiem Xuan Da, chairman of the Vietnam Steel Association, said that the country is taking the first steps to build a carbon-neutral roadmap for the steel industry. "Towards 2025, the steel industry aims to reduce GHG emissions by 10-30 per cent by optimising processes, energy, raw materials, and technology. In 2025-2030, the industry will use low-carbon materials and increase the amount of hydrogen gas in steel factories by 30 per cent," Da explained. Despite the ambition to reduce GHG emissions, the CBAM will pose a major challenge for Vietnamese steel exporters, according to Da. In the first six months of 2023, … [Read more...] about CBAM heralds new journey for sustainable energy use