WT/TPR/OV/M/ 20 
8 March 2023 
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Trade Policy Review Body   
 
OVERVIEW OF DEVELOPMENTS IN THE  
  INTERNATIONAL TRADING ENVIRONMENT  
MINUTES OF THE MEETING  
6 December 202 2 
Chairperson: H.E.  Mr Ángel Villalobos  Rodríguez (Mexico)  
INTRODUCTORY REMARKS BY THE CHAIRPERSON  
1. Good afternoon and welcome to this meeting of the TPRB, which was convened by Airgram 
WTO/AIR/TPR/136  on 22 November  2022. 
2. The purpose of this meeting is for Members and Observers of the Trade Policy Review Body 
to undertake their annual overview of develo pments in the international trading environment which 
are having an impact on the multilateral trading system, as provided for in Paragraph  G of Annex  3 
of the Marrakesh Agreement.  
3. As mentioned in the Airgram, today's discussion is assisted by the Directo r-General's Annual 
Report which provides a comprehensive overview of the overall state of global trade, of significant 
developments in the implementation of trade policies by WTO Members and Observers, and an 
up-date on several trade policy issues affectin g the trading system for the period between 
mid-October  2021 and mid -October  2022. The Report was circulated in document WT/TPR/OV/25 
on 22  November  2022.  
4. Before discussing the Report, let me briefly recall the purpose of the Trade Policy Review 
Mechanism . According to Annex  3 of the Marrakesh Agreement, the TPRM goal is to achieve greater 
transparency in, and understanding of, Members' trade and trade -related policies and measures. 
The TPRM is not intended to serve as a basis for the enforcement of obligations under WTO 
Agreements, for dispute -settlement purposes or to impose new policy commitments on Members.  
5. I think it is important to emphasise that these same fundamental principles apply to the 
periodic trade monitoring Reports by t he Director -General - such as the Annual Report presented 
today. The trade monitoring exercise is, above all, a transparency exercise. It is intended to be 
purely factual and has no legal effect on the rights and obligations of WTO Members.  
6. As you know, t he preparation of these Reports relies on Members ' timely and specific inputs 
to the trade monitoring exercise as well as on their notifications under the various WTO  Agreements.  
7. For the current Report, 81  Members or 49% of the membership provided input, representing 
around 91% of world trade. This is, unfortunately, down from 60% of the membership for last year's 
Report.  
8. As I mentioned in July, to produce high quality, accurate and reliable Reports, it is essential 
that all Members and Observers participate to this exercise, engaging with the Secretariat during 
the request of information and verification process. Currently , some regions remain 
underrepresented in the coverage of the Report, and this is of concern. As you know, this and other WT/TPR/OV/M/ 20 
 
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  issues are currently being discussed by Members in the context of the 7th Appraisal of the TPRM, 
with a view to further enhance our wo rk. 
9. Now let me move briefly to the substance of this year's Report. The Report covers the wide 
ramifications of the many challenges the global economy is facing, including the war in Ukraine, 
climate change events, the food and energy security crises, and the consequences posed by the 
COVID -19 pandemic. In addition, the Report covers a wide cross -section of work going on in bodies 
across the WTO system.  
10. I do not wish to go into detail about the substantive findings of the Director -General's Report. 
It speak s for itself, and I will shortly invite Director -General , Dr Ngozi Okonjo -Iweala , to share her 
views.  
11. On an overall note, the findings of the Report remind us of the fundamental challenges the 
global economy is facing today, the impact these are having on  global trade and the role we, the 
WTO Members, can have in reverting the trend of slowing international trade.  
12. Equally important, from a transparency perspective, the Report allows us to take stock of the 
most recent trends and developments in trade and trade-policy making and hopefully this is helpful 
to the membership.  
13. Now, let me give the floor to the DG to introduce this Report. Subsequently, I will open the 
floor for comments from delegations.  
INTRODUCTORY REMARKS BY THE DIRECTOR -GENERAL  
14. Excellencie s, ladies , and gentlemen. I am pleased to join you today to take stock of recent 
trade policy developments.  
15. Thank you, Ambassador Villalobos (Mexico) for your introductory remarks.  
16. You all will have seen my Report which was circulated to Members on 22  November, in 
document WT/TPR/OV/25.  
17. Ambassador Villalobos has already described how the Report was prepared.  
18. Allow me to share with you my key take -aways from the Report, and to point to a few issues 
we have been watching closely since the mid -October clos e of the review period.  
19. The global economy continues to face multiple challenges: continuing impacts of the 
pandemic, the repercussions of the war in Ukraine, high inflation - particularly for food and energy 
prices, and several climate change -related eve nts that disrupted economic activity. In October we 
downgraded our outlook for international trade: we now forecast merchandise trade volumes will 
grow by just 1.0% in 2023, well below the 3.4% we had estimated in April.  
20. The Report shows that since 2020, Members have increasingly implemented new trade 
restrictions, in particular on the export  side, first in the context of the pandemic and more recently 
in the context of the war in Ukraine and the food security crisis.  
21. Although some of these export restric tions have been lifted, many others persist. T he 
Secretariat's ongoing monitoring shows that as of 4 December  2022, out of the 78  export restrictive 
measures on food, feed, and fertilizers introduced since the start of the war in late February, 5 7 are 
still in place, covering roughly USD  56.6 billion of trade. These numbers have increased since 
mid-October, which should be a cause for concern.  
22. As I told G20 Leaders at their summit in Indonesia a few weeks ago, lifting those export 
restrictions is fundamental to reduce price spikes and volatility and to allow goods to flow to where 
they are urgently needed.  
23. With respect to the pandemic, the Report shows how trade policy helped in efforts to combat 
COVID -19. Global value chains held up, despite initi al disruptions, and the multilateral trading WT/TPR/OV/M/ 20 
 
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  system played an instrumental role in encouraging restraint in the use of trade restrictions in 
response to pandemic -related shocks. Most of the 443  COVID -19-related trade measures on goods 
introduced by WTO Mem bers and Observers since the outbreak of the pandemic were trade 
facilitating.  
24. During the mid -October  2021 to mid -October  2022 review period, Members continued to 
phase out pandemic -related measures, in particular restrictive ones. Nevertheless, 
41 pandem ic-related trade restrictions remain in place (27  export  restrictions and 14  import  
restrictions), covering USD  134.6  billion worth of trade, according to information received by the 
Secretariat. As we look to improve access to vaccines, therapeutics, diag nostics, and other critical 
medical supplies globally, I urge Members to end the remaining restrictions.  
25. On a positive note, the num ber of new COVID -19-related measures on goods and services has 
decreased significantly over the past year. But pandemic -related shocks are still with us, and so 
there is a need for continued vigilance.  
26. Another challenge which merits our attention, even if it does not make news headlines, is the 
slow but steady growth in the stockpile of import restrictions that  have accumulate d since the Trade 
Monitoring exercise began in 2009. As of mid -October 2022, some 9% of global imports were 
affected by import restrictions introduced since 2009 and still in force. The failure to roll back these 
measures is detrimental to the efficient fu nctioning of global commerce, and we need to gain a better 
understanding of what can be done to reduce this stockpile.  
27. Before concluding, I want to note that the Report also includes an overview of the status of 
notifications across WTO bodies, an issue wh ich I know is of great interest to Members and continues 
to merit close scrutiny, particularly as we work to move ahead in our discussions about reforming 
this and other pillars of the WTO's work.  
28. In closing, let me reiterate that the Trade Monitoring Exer cise - a unique multilateral and 
cross-cutting endeavour - is only as strong as Members want it to be. In other words, your 
participation is crucial. I thank all those that have participated in this important work, and urge all 
delegations to join in and h elp us strengthen this transparency exercise.  
29. The Secretariat has continued its outreach program to help delegations and capitals better 
understand what the exercise entails. In response to feedback from delegations, the Secretariat has 
developed a digital  platform for on -line verification where Members can voluntarily participate and 
verify their measures. The online platform is still under development and is part of the Trade 
Monitoring Database. Early next year the Secretariat will get in touch with inte rested Members to 
provide guidance and feedback on how online verification is working. I urge Members to take 
advantage of this new development and participate more in the exercise.  
30. Finally, I encourage you to also have a look at the three-page Fact Sheet on the Report - a 
quick overview that the Secretariat has prepared and posted on the WTO website.  
31. Unfortunately, I will not be able to stay with you this afternoon, but DDG Ellard will be my 
ears - and I look forward to hearing about your exchanges and sug gestions.  
STATEMENTS BY MEMBERS  
EUROPEAN  UNION  
32. I would like to make a few comments on the Monitoring Report, which is a flagship  report of 
the WTO, so if you look at the big products that we make here in this Organization, this is one of 
them with the World Trade Report and with the Report to the G20. So, I think that is very important 
and we have to make sure that the messaging is  appropriate and reflects the state of the trading 
system.  
33. In essence, the World Trade Report that came out a few  weeks ago is complementary to this, 
that was more thematic devoted to climate change, this is more of a health check of the state of the 
trading system itself, but they are equally important  and it is worth spending some time . WT/TPR/OV/M/ 20 
 
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  34.  I will express disappointment at the unbalanced representation in the room because there is 
very few  developing countries here . It was the same in July, so I really think  we have to give 
ourselves a Homework  sheet  and to try to invite developing countries also to be more present in this 
discussion . 
35. I would also argue that these meetings would be better if they are in informal mode so that 
we can talk about the trading syst em about things that are going on or that are developing, that we 
agree with or disagree with in a more open  way until this is possibly possible for next meeting if  
possible also in the presence of the Director -General because I think we very much value al so here 
presence as we take these discussions forward, this is her Report  after all. So, I think , for the next 
meeting that would be a very warm invitation for her to participate in the exchanges . 
36. We agree with a focus on transparency . So, there is a lot o f new emphasis in this Report on 
transparency, so you have a warm support on that, but as an Organization we are also like athletes , 
we have to try to do better each time . If there is a lack of transparency through absent notifications, 
we need to find out  better ways to ensure that these gaps are filled . So, is technica l assistance 
appropriate? Can we engage with Members who may not be complying with their notification 
obligations adequately,  is that  something that we need to do better ? And we fully endorse your wish 
to have the verification process, a commitment by Members to participate in that with rigor and 
discipline . 
37. When we look at the last 12  months , I would be remiss if I did not mention 
Russia n Federation 's invasion of Ukraine , because I think that for us as Europeans a continent that 
has been at peace since 1945 except for a short period when  the Yugoslav  Federation ha d a short 
civil war, but apart from that period this has been a continent at peace , and it benefited  the trading 
system. So you will understand our concern that  this illegitimate war is impacting not just on our 
continent but very much so on vulnerable countries , and I think we have seen that in this Report in 
the trade flows , and the restrictions  in the field of cereal s and oil s eeds,  and fertilizers, and we 
believe there is only one party that is responsible for this, so that is something I just want to be 
very clear on upfront, I am  asked ever  time by th e Member States to mention this, we have long 
preparatory discuss ions and they come back to it each time, so I would be  remiss , if I did not 
mention  it. 
38. What I think we  would  feel in terms of the Report, and we are  I think also going to look at this 
in the context of the appraisal , is if we can make the reports a little  bit more less mechanis tic, each 
division ha s asked for comments, the comments are received, they are pasted  together  and then 
you have an overview of what all the different directorates of the Secretariat do, but you do not 
actually have a right pulse  of the tensions within the world 's economy . Some of it is in the Report , 
so I am not saying it is not covered, but we would encourage you to cover it more, so I will give a 
few examples . 
39. I think we agree with the discussion around supply chain security which has been very central 
to changes in the world economy , and we would also agree with the narrative of the 
Director -General , who ha s tried to juxtapose  a narrative of re -globalization versus re-shoring , and 
that if you want to protect the trad ing system, you want to be in favour  of re-globalization that 
companies have dual supply  chains, etc. , but that is the alternative to re-shoring and I think the 
more that that kind of message with empirical evidence can be brought into the reports, the bet ter 
that would be and the more interesting they would become  for the broader public. So , more analysis , 
and more policy , and more key messages.  
40. In the same vein, on supply chain security, the Report highlights correctly that there is an 
increase in export -restrictive measures;  but what the Report does not highlight is that the WTO is 
much weaker in addressing export -restrictive measures than in addressing import -restrictive 
measures , and again if you are thinking about a  policy message, that would be an ap propriate policy 
message which I think could have been conveyed in this Report . If we are , in the next 20 to 30 
years , going to become much more dependent  on the sourcing of critical war materials across the 
world, then additional disciplines on export restrictions would be appropriate and WTO  rules are not 
well developed in that field, compared to import rules.  
41. I think in the same vein with respect to environmental policies, the Trade Report  four weeks 
ago was devoted  to that , but the general me ssage that you can actually protect the environment, WT/TPR/OV/M/ 20 
 
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  and you could take measures to protect the environment, but you can do that in a way that is WTO 
compliant . The more that the Organization can convey those messages, the better  it would be.  
42. So, I think t here are other smaller points which I think we can discuss on Friday when we are 
looking at the TPR process itself, we consider this to be a very valuable product from the Secretariat, 
so I want to thank you very much for it , and to Willy as well his staff who work on this so much, and 
we will be really looking  forward to  having that engagement in order to make this product ; in sense, 
what we would like to see is that it is not just of interest to trade experts working here  in the building 
and delegations b ut to the public at large.  
HONG  KONG,  CHINA  
43. Before delivering my statement, I would like to echo two points made by our EU colleague 
just now. First, the Trade Monitoring Report is indeed the flagship product of the WTO , and all 
Members have a role to play . Second, this is also an important transparency pillar of the WTO trade 
monitoring function. We encourage all Members to participate actively in the exercise. If any 
Members experience any difficulties, I am sure the WTO Secretariat would be able to offer  technical 
advice on participating in the exercise.  
44. Hong Kong,  China would like to thank the Director -General and her team for compiling the 
annual report. The Report is particularly timely, as the world faces multiple challenges, including the 
exacerbatin g food and energy crises, high inflation, tightening of monetary policies, not to mention 
the impact of the COVID -19 pandemic.   
45. Despite the slight revision of WTO 's forecast for global merchandise trade growth in 2022 and 
the global trade growth forecast in 2023, we believe downside risks continue to undermine the global 
economy, and less -developed regions are particularly vulnerable. In the midst of unpredictable risks, 
we hope all WTO Members could work collaboratively to promote a robust, sustainable an d inclusive 
economic recovery.  
46. In particular, we appreciate the efforts of WTO Members in phasing out trade restrictions and 
refraining from introducing new ones. We are pleased that as at mid -October 2022, almost 80% of 
trade restrictions implemented sinc e the outbreak have been repealed. The estimated trade 
coverage of these COVID -19 trade -facilitating measures in place (USD  172.4  billion) exceeds that of 
trade restrictions (USD  134.6  billion). That is a very positive sign.  
47. With respect to regular trade measures, we notice that the trade coverage of the 
trade-facilitating measures is almost four times that of trade -restrictive measures, while the average 
number of trade -facilitating measures per month reached its record high since 2012. Members ' 
efforts in this regard are commendable.  
48. Notwithstanding this, we remained concerned about the stockpile of import restrictions in 
force, which has grown steadily since 2009, and is estimated to be affecting 9.3% of global imports. 
For the first time since th e commencement of the trade monitoring exercise, the number of new 
export restrictions  (129) outpaced that of import restrictions  (85). However, during the review 
period, no information on termination of import restrictions had been received. We urge all M embers 
to provide timely notifications in respect of revocation of any trade -restrictive measures to enhance 
transparency.  
49. At the last informal meeting of the TPRB in July to discuss the DG 's half -yearly Report, and 
during the seventh Appraisal of the TPR Mechanism that commenced in September, Members already 
made suggestions to improve the trade monitoring process, including streamlining of the verification 
process, and ensuring that the reports reflect Members' priorities and interests. We hope these 
discussions would bear fruit and would contribute to increasing the participation of Members in 
future . 
CHINA  
50. I would like to start by thanking the Director -General and the Secretariat for the great efforts 
in preparing the Monitoring Report covering the perio d from October  2021 to October  2022. I want 
to thank the Chair for the hard work in the whole year.  WT/TPR/OV/M/ 20 
 
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  51. In this review period, the world trade was suffering from multiple challenges. Unfortunately, 
next year, we are not going to have a better but an even worse  situation. As predicted by the 
Secretariat, global merchandise trade volume is to grow only 1%. In this context, we do hope such 
Trade Monitoring Exercise will remind Members to well discipline themselves and work together for 
a better global trade and in vestment environment rather than moving to the opposite. Besides those 
challenges mentioned in the Report, China is also very concerned with the increasing measures 
taken especially on the pretext of national security or climate change but are resulting in  serious 
consequences to the interconnected global economy. Such measures threaten the most fundamental 
rules and principles of WTO. They are typical non -market economy practices. They are distorting the 
global trade and investment, disrupting the global s upply chain, initiating a subsidy race to the 
bottom and turning the efforts to protect global common into a zero -sum game. In the end, every 
member will be seriously affected. Just as DG has been warning, "Retreating from trade, being 
protectionist will m ake it harder -not easier - to solve the problems we have now". "Protectionism, 
decoupling, fragmentation is very disruptive, and it will be very costly". We hope this will ring the 
alarm to all Members and call for vigilance.  
52. On specific types of measures mentioned in the Report, we note that for the first time since 
the beginning of the Trade Monitoring Exercise, the number of export restrictions have outpaced 
that of import restrictions, as mentioned by previous speakers. As trade plays a key role in 
distributing the emergency respon se products, such export restrictions have no doubt exacerbated 
the pandemic and food crises. In this context, we suggest the lessons could be drawn and good 
practices could be set in relevant subsidiary bodies.  
53. On trade remedy  measures, it is good to know that initiations of trade remedy investigations 
declined sharply during the review period. But on the other side, the total number is still high. We 
agree that trade remedy measures are legitimate rights for members but only w hen they are taken 
consistent with WTO rules. It is regrettable that they have been frequently used as restrictive and 
protective measures. As the Report shows, accounting for 37.4% of all non -COVID -19-related trade 
measures on goods recorded in this Repor t. Such a large percentage could imply that there are 
broad abuse or misuse. It has been proved right by the fact that overwhelming majority of rulings 
of dispute cases on trade remedy measures suggest the measures are not WTO consistent. And 
worse, there are measures being there for a decade or decades even with no targeted products 
imported.  
54. On transparency, we note the information provided by the Report on transparency 
mechanisms of subsidiary bodies and hope through the WTO reform exercise, this function could be 
well enhanced.  
55. For the past three months, Members have conducted inspiring discussions on trade monitoring 
and other trade policy review issues at the informal meetings of the seventh Appraisal of TPRB. 
China welcomes suggestions from Mem bers such as using information from creditable sources and 
appreciates the responses from the Secretariat to streamline the reporting and verification processes 
in compiling the Trade Monitoring Report.  
56. We welcome the initiation of the online platform for  reporting trade and trade -related 
measures and expect a needs -based and user -friendly digital tool for Members.  
57. To conclude, the success of MC12 demonstrates an important victory of multilateralism and 
Members' resolution to work together to overcome dif ficulties. China will continue to work with other 
Members to jointly tackle the global challenges in an open, transparent , and inclusive manner.  
COLOMBIA  
58. We would like to thank the Director -General and the Secretariat for having prepared this 
report, and for the efforts made to gather information from Members and to quantify and systematize 
this information.  
59. We wish to stress that this version of the report separates ordinary trade -related measures 
from the extraordinary measures taken in response to the p andemic and those linked to the war in 
Ukraine. This provides clarity and facilitates understanding of the overall trade outlook.  WT/TPR/OV/M/ 20 
 
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  60. The first point worth mentioning is the slowdown in economic growth, which slows trade, and 
inflation due to various global c rises that have been occurring. GDP and global trade volume 
estimates predict a significant slowdown in the coming year, sounding the alarm for a complicated 
global context in 2023, with middle - and low -income countries set to be the most affected.  
61. Althou gh the report indicates that there were more trade -facilitation measures than trade -
restriction measures, concern remains over the growing number of export -restriction measures, 
which for the first time outweigh import -restriction measures. This trend, whi ch was first seen during 
the pandemic, has continued until now and is greatly affecting the food and fertilizer sectors.  
62. These restrictive measures, compounded by the effects of the war in Ukraine, are today having 
serious consequences on developing count ries, such as inflation, product shortages and a 
deterioration in people's living conditions. We will continue to feel these effects in the short and 
medium term.  
63. Ultimately, it is trade facilitation measures, and not restrictive measures, that will enabl e us 
to collectively and effectively address this global problem. We continue to appeal to all parties to 
end this conflict.  
64. As we have pointed out on previous occasions, in addition to the various crises economies are 
facing, we see that governments are increasing general economic support measures and emergency 
measures. Support measures linked to the pandemic outweigh amounts granted during the financial 
crisis of 2008. To this we must add support and stimulus packages granted in response to the rise 
in energy and food prices. This, in addition to sectoral support that various economies are granting, 
as seen in several news headlines.  
65. It is clear that these support measures have a considerable impact on global trade and highly 
significant trade -distortin g effects, particularly on small economies like that of Colombia, which do 
not have the fiscal policy space to grant the same level of domestic support as developed economies.  
66. We wish to highlight the increasingly comprehensive information provided on tra de in services 
and trends in these sectors. We encourage increasingly detailed and informative data in this area, 
which is becoming ever more important in our economies and in trade flows. We need to have 
greater details on trade -facilitation and trade -restriction measures in different sectors and an in -
depth understanding of their impact.  
67. We also call for more information and analysis in the area of intellectual property. Although 
the information contained in the report to Members is limited, we can bolst er the analysis slightly 
with more cross -cutting policy elements, information on the TPRs of Members and information  from 
IOs. We see huge potential for improvement in this area.  
68. Lastly, I should mention that this report provides information that is releva nt to all Members 
and shows the importance of the commitment to transparency within the Organization. As long as 
all Members participate actively, by providing clear and timely information, we will all have access 
to high -quality analysis that facilitates decision -making on public policy matters.  
69. My delegation has been and will remain committed to this monitoring exercise. We have 
benefited from the technical support of Secretariat staff for submitting information and we 
emphasize the importance of enhancing cooperation within this Organization in order to respond to 
this collective challenge.  
THAILAND  
70. Thailand would like to thank you Chair for  organizing this meeting and the Director -General 
for the opening remarks and the Secretariat for compiling  the Report . So please allow me to present 
a few observations about the Report . 
71. First, we think that  the Report is consistently insightful and comprehensive, it provides us with 
the up -to-date development s of trade measures , both of facilitating and restri cted nature , according 
to the Report  it is encouraging , as our DG mentioned  too and that Members continue to phase  out 
from the pandemic -related measures, furthermore, trade continues to be an important policy WT/TPR/OV/M/ 20 
 
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  instrument to mitigate domestic challenges fac ed by many individual  Members as the average 
number of trade-facilitating measures per month was t he highest recorded since 2012, primarily in 
response to the ongoing inflation and food crisis . 
72. Another good news for us, is that initiation of  trade remedies  investigation declined  sharply 
during the review  period . 
73. What we found very useful about this Report is the coverage on systemic trade concerns  raised 
by Members in various Committee meetings . According to the Report, Members increasingly use 
various individual bodie s to raise and resolve trade concerns, however, the rising number of  trade  
concerns in many individual bodies, some of which have seen the highest numbers on record, as 
well as the repetition and non -resolution of same trade concern  is unquestionably a source of concern  
itself for all Members.  
74. We also appreciate the information provided in the Report about other selected trade policy 
issues , from pg. 66 onwards , and we believe that besides the regular and traditional trade measures,  
and new emerging issues , such as digital trade and trade and the environment , deserve more 
attention and space in the Report . Also, we have found the information provided in the topical  boxes 
such as that about climate change  and trade, and critical raw ma terials for green technologies 
highly -relevant, complementary , and useful . We strongly encourage the Secretariat to continue to 
work in this manner to make the Report more responsive to the  looming global challenges  global 
challenges.  
75. Moreover, we welcome the digital platform for online  verification , and please count Thailand 
in the Secretariat outreach.  
76. We would like to refer to our statement in the meeting on the  28 November  2022, and just 
briefly state here that it is important to give sufficient time for developing countries to gather data 
on the trade measures and also  to address the data gap between  those from trade monitoring 
exercise and those collected in other W TO bodies , such as the QR notifications, for example, where 
the former  did not cite any WTO justifications , and did not provide time duration of the measures . 
We believe that it is important to synchronize the way data are collected across individual bodies to 
maximize the impact and the efficiency of the exercise . 
77. In conclusion , Chair, w e welcome the Report and appreciate the efforts by you, the DG, and 
the Secretariat . We have learned so much from the Report and encourage everyone involved to 
continue this very useful exercise.  
UNITED  KINGDOM  
78. I want to take the oppor tunity to thank you and the Secretariat for the work that goes into 
this because I have been here less time than the UE delegate , so I'm sure you have heard lots of it 
before , but it really is appreciated that it is in my first year in the kind of cycle of them and we really 
do value and is really important.  
79. The Report, it is hard not to feel a bit gloomy  reading it with the global economy facing multiple 
challenges, includin g high inflation, rising food and energy prices, supply chain disruptions, climate 
change -related events and continued follow -up from the COVID -19 pandemic.  We see that there is 
not so much good news there, and I think we have heard eloquently from others , Colombia just 
now, on  the impact of developing countries,  and Hiddo, you know our views on the 
Russia n Federation 's invasion of Ukraine, but I think here is extremely eloquent in how the impact  
on the continent and the global economy . 
80. I think against this  backdrop, we must all ensure that the international trade keeps flowing in 
supply chains remain open and so we urge all  Members to do their bit to uphold  the multilateral 
trading system , and I think my Ambassador  said something like in TNC, that  we must r etreat from 
retreating and start advancing, something like that in his usual style , but I think it was a good lesson 
that we should maybe look towards doing  more in the future . And with that also , I would welcome 
the focus on transparency as others have said, and in that note , I think that the Trade  Monitoring 
Report  highlights that trend in the share of Members not  making subsidy  notifications , which is the 
first time , I think since establishing of the WTO exceeded 50% in 2021, so this is a concern in t he WT/TPR/OV/M/ 20 
 
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  process  of notification , and revue  is vital to  the functioning of the Agreement on Subsidies and 
Countervailing Measures , for example . We urge all Members  to comply with notification obligations . 
81. We recognize that compiling a comprehensive  subsidy notif ication is not a simple  process, so 
we encourage Member s to seek support from  the Secretariat where they can, but it would be  useful 
to unpack  some of the reasons  around notifications, not happening, as others have said. 
82.  Finally, I  would  just add that that the UK has prepared some research early this year, which 
we have published titled "Valuing the Impacts of the WTO " which was published in August . The 
report demonstrates empirically a positive WTO effect on international trade , and we will be  more 
than happy to share that report with the Secretariat and  other Member s who might  find that 
interesting.   
CANADA  
83. Canada would like to join other Members in thanking the Secretariat for their work on this 
excellent Report and would like to support stat ements made by the EU and UK concerning the effect 
of the Russia n Federation' s illegal invasion of Ukraine on global trade.  
JAPAN  
84. Japan reiterates the importance it attaches to the TPR Monitoring Exercise as part of the 
monitoring efforts of implementation  of the WTO Agreements and  joins other delegations to 
presenting our appreciation to the work devoted by the Secretariat in compiling this Report.  
85. In the current review period, we have witnessed the world continued to work for the resilience 
from the COVID -19 pandemic, while the Russia n Federation's  aggression to Ukraine gave rise to 
tremendous humanitarian crises, impacted seriously the world economy, particularly the food 
security of so many Members. Trade restrictive measures related to the pandemic rema in in place, 
though continued its mild trend of decrease, on top of what DG described as a stockpile of longer 
persisting measures. We find it more relevant in the next review period to maintain our focus on the 
protectionist trade restrictive measures and  transparency, particularly at a time when we are facing 
unfortunately series of downward reviews of economic prospects.  
86. We also look forward to joining the efforts to improve of this exercise in the context of the 
Appraisal, among others, highlighting th e Members ' participation, enhanced transparency, and tuned 
and timely analysis of challenges facing the global trade.  
87. Lastly, as has been announced, TRPB will review Japan March next year; we will contribute to 
the transparency enhancement efforts this in stitution.  
DEPUTY DIRECTOR -GENERAL ELLARD' S CLOSING REMARKS  
88. I simply want to recognize and thank the delegations for having participated in the preparation 
of the Report and for their comments and reflections today. The active participation and the 
numerous comments made reflect the importance that Members attach to this transparency 
exercise.  
89. I have taken good note of all the comments, inputs, and concerns of Members and can assure 
you that I will convey them to the DG. The Secretariat will build on  all these valuable inputs and 
reflect on how to further improve the Trade Monitoring Exercise – an effort I know is already full 
under way as part of the seventh Appraisal of the Trade Policy Review Mechanism.  
90. I would like to echo and emphasize what has b een mentioned by you, Ambassador, and by 
several delegations today, on the importance of Members' participation in the WTO Trade Monitoring 
Exercise. As noted in the Report, only 49% of Members provided input and that is down from 60% 
the year before. As w e know, the output is only as good as the input that goes into it,  so I certainly  
encourage increased participation .  WT/TPR/OV/M/ 20 
 
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  91. At the same time, I recognize the challenges that have been raised with respect to developing 
countries, and I know that from t he Secretar iat's standpoint  we certainly stand ready to provide 
whatever resources that we can.  
92. I encourage you  to further participate in this exercise , as Members' timely contributions is 
crucial to deliver factual and up -to-date reports and further strengthen the c onstructive stakeholder 
relationship between Members and the Secretariat.  
93. To conclude I would like to highlight the value and usefulness of the Trade Monitoring Exercise 
and the importance of improving transparency and predictability for a healthy and well -functioning 
multilateral trading system.  
CHAIRPERSON'S CLOSING REMARKS  
94. I think this has been a constructive meeting.  
95. Clearly, transparency and predictability are essential elements of a healthy and 
well-functioning international trading system – and more  so in the face of one or several ongoing 
global crises. The ability of the Trade Monitoring Exercise to deliver factual and up -to-date 
information depends, to a very large extent, on the input of Members. This includes, providing and 
verifying information  which can only be obtained from you, the Members.  
96. Considering  all that has been said earlier and during the discussion of today's meeting, it is 
evident that your timely contributions to the Trade Monitoring Report and your support to the 
Secretariat is fundamental to ensure and preserve the high quality and accurac y of the Reports.  
97. Before I close the meeting, I would like to remind you that tomorrow, 7 December 2022 we 
will have the second day of the Trade Policy Review of the Seychelles. After that, I will see you all 
at the next Informal TPRB meeting to continue o ur discussions under the Appraisal of the TPRM this 
Friday 9 December 2022 at 3pm. I wish you all a good evening. With these words, I hereby close 
this meeting. Thank you for your participation.  
 
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