AgWired

Speaking of the WTO (last post). . . They just released their 2005 World Trade Report (executive summary)(pdf file). This is a lengthy document so if you want the full report you’ll have to go to their website. I have not read the full report but didn’t see anything very specific to agriculture in the summary. However, there is some interesting information you may want to check out. For example it looks like trade is picking up in other parts of the world as evidenced by the following excerpt.

Global output and trade grew more strongly in 2004 than in the previous three years. Global GDP growth amounted to 4 per cent in 2004, providing a solid basis for strong trade growth. For some regions, notably Central and South America and the Commonwealth of Independent States (CIS), this represented the best growth for more than a decade. In all seven regions defined in this Report, output and export growth were higher than the average annual rates for the 1990s. Real merchandise trade grew by 9 per cent, the best performance since 2000 and the third highest rate over the last decade. In line with the prevailing post-war pattern, trade growth outstripped GDP growth by a significant margin – on this occasion by 5 percentage points. As this pattern continues, trade becomes an ever more crucial component of global economic activity. The most dynamic traders in 2004 were in Asia, South and Central America, and the CIS. Average trade growth in all of these regions was in double digits. Africa’s trade grew strongly on average in 2004, buoyed in part by firmer commodity prices, particularly for oil and metals. Oil prices also had a strong influence on trade growth in the Middle East. North America’s exports gained further momentum in 2004 compared to previous years, but growth was below the global average. Similarly, improved merchandise trade growth in Europe in 2004 was also very important for world trade growth, but Europe’s trade and output growth remained well below the global average.

I just sent in my request for credentials for this December’s Hong Kong Ministerial of the World Trade Organization. I’m seeking a sponsor of my coverage of this extremely important event to all of U-S agriculture, especially from a marketing standpoint. Please contact me if you’re interested in becoming one of the AgWired Hong Kong sponsors.

There’s not a lot of information out yet on the conference but I’ll begin regular posts about is as we move closer. Here’s why the conference is important according to the WTO website:

Highest authority: the Ministerial Conference

So, the WTO belongs to its members. The countries make their decisions through various councils and committees, whose membership consists of all WTO members. Topmost is the ministerial conference which has to meet at least once every two years. The Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements.

The last conference I attended was the never-to-be-forgotten Seattle conference when I came in contact with protestors up close and personal. Here’s to hoping this conference will be a little different. I kind of think the authorities there will handle it differently than we did in Seattle.