Chinalco could invest $426 million in Suriname bauxite project
If approved by parliament, Chinalco could begin construction by the middle of next year.
Brazilian trade diplomat Roberto Azevedo was selected Tuesday to replace France’s Pascal Lamy as the head the World Trade Organization.
Azevedo, who led the successful battle against Canadian subsidies for Bombardier jets, will look to turn around the troubled WTO, which has been unable to complete its ‘Doha Development Round‘ of trade liberalization talks that commenced in 2001.
The first Latin American and BRIC citizen to run the WTO, Azevedo will be tested this December when the trade body meets in Bali to discuss a deal to standardize customs procedures worldwide, which could provide a boost of up to $1 trillion to global GDP.
Success at Bali could “reinvigorate the WTO’s confidence…to reform global trade rules” but the US and other members remain skeptical that a deal will get done in December.
Sources: The Globe and Mail; Tom Miles, Alonso Soto, Anthony Boadle and Doug Palmer reporting for Reuters.
