Washington: The United States has dragged the world’s two largest economies, India and China to the World Trade Organization (WTO) over their subsidy programmes complaining the “situation was simply intolerable”. Washington has sought from the two countries “prompt provision of detailed information and data” regarding the operation of 50 subsidy programmes in India and 200 programmes in China, US Trade Representative Ron Kirk announced Thursday.

Canada and Morocco have begun the first round of negotiations toward a first time free trade agreement (FTA). The talks are due to last until October 14, and are being held in Ottawa. The discussions have been welcomed by Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, and by Gerry Ritz, Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board.

MINSK, 12 October (BelTA) – Belarus intends to resume negotiations on joining the World Trade Organization this year, Deputy Foreign Minister of Belarus Alexander Guryanov stated at a seminar on 12 October to discuss the country’s foreign economic activity as part of the Customs Union. The talks between Belarus and the WTO were slowed down in 2005. “We continue the process, polishing our legislation to meet the WTO requirements. We hope to resume the negotiations on the WTO accession this year,” Alexander Guryanov said.

American and Russian trade negotiators have resolved their remaining disagreements on auto parts, U.S. meat exports, and intellectual property, removing a key obstacle to Moscow’s entry into the World Trade Organization, U.S. and European officials tell The Daily Beast. European Union negotiators are close to agreeing to terms with Russia as well, the officials added. The Obama administration has made Russia’s accession to the WTO the second phase of its reset with Moscow. It’s a major foreign-policy priority for the White House in this election year.

KATHMANDU, Oct. 12 (Xinhua) -- The European Union (EU) has become the largest buyer of Nepali readymade garments (RMG). Exports to the EU account for 46.13 percent of the country's total garment exports. According to the Trade and Export Promotion Center, Britain, France, Germany, Spain and Italy have emerged as major buyers of Nepali RMG in the last five years. With exports to the United States stagnating, the EU has given a much needed respite to Nepali RMG manufacturers.

World Trade Organisation offic-ials have urged Cambodia to implement a trade remedy law to curb unfair competit-ion from foreign products. Such a law would significantly protect the Kingdom from foreign exporters who undercut domestic prices – a tactic known as price dumping – World Trade Organisat-ion Rules Division counsell-or Müslüm Yilmaz said at a workshop on trade remedies in Phnom Penh yesterday.

HCM CITY — Export of fragrant rice has topped 369,000 tonnes in the year to date, a rise of more than 115 per cent year-on-year, according to the Viet Nam Food Association. Pham Van Bay, VFA deputy chairman, said this was because Viet Nam's prices were much less than Thailand's. Thai fragrant rice is currently quoted at above $1,000 a tonne, while Vietnamese fragrant rice costs barely above $700. However, the quality of Vietnamese fragrant rice is not much lower than that of Thai rice.

HA NOI — The Ministry of Finance is considering a draft schedule of tariff reductions for automobiles imported from ASEAN countries during 2012-14. Under the draft schedule, an import tax rate of 70 per cent would be imposed in 2012 on all passenger cars that are completely-built-units (CBUs) imported from ASEAN states. The tax rate would be reduced to 60 per cent in 2013 and 50 per cent in 2014. Special vehicles such as ambulances would enjoy a zero tax rate while trucks would face a 5 per cent tax rate over the next three years.

BEIJING, Oct. 11 (Xinhua) -- Inventories of iron ore at 25 of China's major sea ports dropped 1.1 percent to 93.18 million metric tons in the week ending on Oct. 10 from the previous week, according to the Xinhua-China Iron Ore Price Index released on Tuesday. Last week's imported iron ore stock was 990,000 metric tons less than that of one week earlier, according to the index, which is compiled by the Xinhua News Agency to track iron ore inventories and imports in Chinese spot markets.

Unbeknownst to many, the World Trade Organization has increasingly attacked U.S. consumer and environmental policies. In the past month, the WTO has ruled that both dolphin-safe tuna labels and the U.S. Family Smoking Prevention and Tobacco Control Act are, in fact, in violation of the organization’s rules. If the U.S. refuses to abandon or revise these policies, it could face trade sanctions from the WTO.