Photo : YONHAP News
The government says that World Trade Organization (WTO) members have submitted a record number of notifications about Technical Barriers to Trade (TBT) through September this year.
According to the Ministry of Trade, Industry and Energy on Sunday, the number of TBT notifications issued by WTO member countries reached three thousand-176 through September.
WTO member countries have an obligation to make notifications when enacting or revising technical regulations that have a significant impact on trade, such as technical regulations, standards, and conformity assessment procedures.
The number of notifications of trade technical barriers is rapidly increasing worldwide as major countries are strengthening the trade policy of prioritizing their own interests amid the competition between the United States and China.
The number remained below one thousand until 2005 but has since increased rapidly, exceeding four thousand for the first time last year.