The Appointments Committee of the Cabinet (ACC) on Friday approved the appointment of Pandian, a 2002 IAS officer of the Uttar Pradesh cadre, for three years from the date of assumption of charge. Pandian is currently posted as commissioner, excise in Uttar Pradesh.
His appointment comes at a time when the world is witnessing inflation, high interest rates and geopolitical tensions.
In October, WTO has more than halved its growth projection for world merchandise trade volume for 2023 at 0.8% compared to the 1.7% forecast in April last year due to a continued slump in goods trade.
However, the 3.3% growth projected for 2024 remains nearly unchanged from the previous estimate of 3.2%.
WTO Director-General Ngozi Okonjo-Iweala said the expected slowdown of trade was a cause for concern because it could depress the living standards of people around the world, particularly in poor countries. Falling commodity prices and appreciation of the dollar have pushed world merchandise trade down 5% on-year in the first half of 2023.
A crucial ministerial conference (MC13) of the WTO is scheduled for next month when the members would negotiate an agreement on deep sea fishing. Besides, the multilateral trade watchdog’s key function of dispute settlement has been crippled with the US having blocked the appointment of judges.
