A joint report by the International Renewable Energy Agency (IRENA) and the WTO published on 9 December provides insights into global hydrogen trade and policies for scaling up production. Hydrogen produced exclusively from renewable power — known as green hydrogen — is widely recognised as a key pillar in replacing fossil fuels and decarbonizing sectors that cannot easily be electrified, such as some industrial processes, shipping and aviation.
WTO monitoring shows that between mid-October 2022 and mid-October 2023, the value of world merchandise trade covered by new trade-facilitating measures far exceeded that affected by new trade restrictive measures, an encouraging trend at a time of uncertainty and tension in the global economy. Nevertheless, the WTO Director-General’s annual overview of developments in the international trading environment, presented on 7 December at a meeting of the Trade Policy Review Body, indicates that trade restrictions continue to weigh on global trade, with persistent export restrictions contributing to food price volatility.
