Petroleum Development Oman Awards Lufkin Industries Multi-Year Contract for Rod Driven Progressive Cavity Pump Systems (RDPCP) for South Oman

MUSCAT, Oman, Feb. 24, 2026 (GLOBE NEWSWIRE) — Lufkin Industries (“Lufkin”), a global leader in artificial lift solutions, has been awarded by Petroleum Development Oman’s (“PDO”), a multi-year performance contract to deliver Rod Driven Progressive Cavity Pumping (“RDPCP”) systems across the Marmul-Rahab-Thuleilat-Qaharir (Marmul and RTQ) fields. The award solidifies Lufkin’s position as one of PDO’s most trusted long-term partners in production optimization and field execution.

The win extends Lufkin’s successful partnership with PDO, which began in the early 2000’s and has consistently delivered asset reliability, engineering innovation, and strong localization outcomes in Oman’s oilfields. Under the new Marmul-RTQ award, Lufkin will continue supplying high-performance RDPCP equipment, deployment services, and production optimization support.

“This award reaffirms the strength of our partnership with PDO and our shared commitment to long-term field success,” said Brent Baumann, Chief Executive Officer of Lufkin. “From day one, we’ve focused on delivering not just reliable artificial lift systems, but a broader ecosystem of service, innovation, and localization wrapped in safety that supports Oman’s production goals. We’re honored to continue building on this foundation with Marmul-RTQ.”

Over the past twenty years, Lufkin has become a top performer in Oman’s artificial lift market, achieving:

  • Over 2,000 Rod Lift Systems installed
  • Zero Non-Productive Time across new well deployments and replacements
  • An average pump run life of over 763 days for PCP Systems
  • ‘Quarterly Performance Review’ scores consistently “On Target” and “Above Target”
  • Published technical papers in collaboration with PDO and a leading industrial partner, including breakthroughs in remote-controlled RDPCP operations as well as co-presentations with PDO at the SPE workshop in Cartegena, Colombia – all affirming Lufkin’s commitment to develop PCP optimization programs for PDO and the industry

“Our teams have earned trust in the field through consistency, technical excellence and collaboration,” said Craig Guillory, Vice President International Sales & Operations at Lufkin. “This win is not only a validation of our past performance but a challenge we’re proud to take on. We’re committed to delivering the same high standards in Marmul and RTQ that PDO has come to expect from Lufkin.”

Invested in Oman – Local Talent, Local Infrastructure

Lufkin’s approach to the Marmul-RTQ execution will continue emphasizing In Country Value. Currently, 87% of Lufkin’s field teams in Oman are local nationals, and the company has built up robust in-country infrastructure to support deployment, service, and optimization.

“Lufkin has proven itself as a high-performance partner for PDO. Their ability to deliver at an elevated level in any condition while also heavily investing in local capability development has made them a strategic part of our long-term production ecosystem.” – Statement from PDO.

The awarded scope will cover new well installations, workovers, optimization services, and life-of-well RDPCP support for Marmul and RTQ; a mission-critical portfolio for PDO’s future production targets.

Learn more about Lufkin PCP Systems: Progressing Cavity Pumps – LUFKIN Industries

About LUFKIN Industries
Lufkin Industries is a leading global provider of rod lift optimization solutions, products, technologies, and services to the oil and gas industry. With over 100 years of industry leadership, LUFKIN manufactures a complete line of surface pumping units, sucker rods, downhole sucker rod pumps and automation systems worldwide. The company is recognized around the world as the industry standard and the benchmark others strive to attain. LUFKIN’s intelligent solutions are supported by an extensive global service footprint, staffed with highly skilled technicians capable of solving the most challenging well concerns.

Discover more at www.lufkin.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bdda487d-85b0-41e0-82d6-3853aa485d1e


GLOBENEWSWIRE (Distribution ID 9659732)

Al Tamimi & Company تعتمد منصة Xapien لتعزيز كفاءة عمليات الامتثال

دبي، الإمارات العربية المتحدة, Feb. 24, 2026 (GLOBE NEWSWIRE) — أعلنت Al Tamimi & Company، الشركة الرائدة في مجال الخدمات القانونية المتكاملة في دولة الإمارات العربية المتحدة ومنطقة الشرق الأوسط وشمال إفريقيا، عن اعتمادها منصة Xapien للعناية الواجبة. يتيح اعتماد هذه المنصة للشركة الارتقاء بعمليات تهيئة وضمّ العملاء وتعزيز إجراءات الامتثال، ضمن استراتيجيتها المستمرة لتحقيق النمو الذكي والمستدام، ورفع الكفاءة التشغيلية، ومواكبة المتطلبات التنظيمية

تدير Al Tamimi & Company  عملياتها عبر شبكة تضمّ 17 مكتباً موزّعاً في مختلف أنحاء دولة الإمارات العربية المتحدة ومنطقة الشرق الأوسط وشمال أفريقيا، وتقدم المشورة لشريحة واسعة من العملاء، بما في ذلك المؤسسات المالية والشركات متعددة الجنسيات. ومع استمرارها في تحقيق نمو مستمر في أعمالها وإرتفاع حجم التعاقدات الجديدة، تولي الشركة أولوية قصوى لاعتماد آليات وإجراءات فعالة وقائمة على مبدأ التناسب لتهيئة العملاء الجدد وتقييم المخاطر، بما يتماشى مع أفضل ممارسات الحوكمة والامتثال.

تضطلع إدارة الامتثال في الشركة بمسؤولية الإشراف على إجراءات تهيئة وضمّ عدد كبير من العملاء الجدد والمهام الجديدة يومياً، ما يتطلّب إجراء تقييمات دقيقة وشاملة وفي الوقت المناسب، لضمان الالتزام بالمتطلبات التنظيمية، ودعم الاحتياجات التشغيلية للشركة.

وفي معرض تعليقها على استراتيجية الشركة، قالت Valentina Zoghbi، الرئيسة التنفيذية لإدارة المخاطر والامتثال في شركة Al Tamimi & Company:

“مع النمو المتسارع في حجم العملاء والتعاقدات الجديدة، حرصنا على تعزيز كفاءة عمليات العناية الواجبة لدينا، مع الحفاظ على العمق المطلوب والاتساق المنهجي. وتؤدي منصة Xapien دوراً أساسياً في دعمنا لتحقيق هذا التوازن.”

اعتمدت Al Tamimi & Company منصة Xapien على نطاق فرق متعددة داخل الشركة، لدعم عمليات الامتثال، والاستخدامات الأوسع مثل البحث وإعداد طلبات العروض (RFPs). وتمكّن المنصة المستخدمين من الوصول إلى المعلومات العامة المجمعة، بما يشكّل إضافة مكمّلة للمواد المقدمة من قبل العملاء، ويساعد في تقييم مجموعة متنوعة من العوامل مثل التعرض للعقوبات، والأشخاص المكشوفين سياسياً، ومصدر الثروة، وغيرها من مؤشرات المخاطر

تساهم وظيفة تنسيق التقارير المتكاملة في منصة Xapien، بما في ذلك الملخص التنفيذي، وأخبار السوق، والجدول الزمني، في تمكين فريق العمل من مراجعة المعلومات بشكل أكثر كفاءة ودقة، مما يساعد على تقليل الوقت المستغرق في المعالجة ودعم عملية اتخاذ القرارات الاستراتيجية.

وأضافت Zoghbi:

“تتيح لنا منصة Xapien جمع المعلومات المتاحة علناً من مصادر متعددة ضمن مساحة واحدة، ما يقلل الحاجة للاعتماد على البحث اليدوي ويعزز كفاءة المراجعات وسرعتها.”

بالإضافة إلى دعم عمليات تهيئة وضمّ العملاء الجدد، تتيح المنصة تقديم الاستشارات للعملاء الباحثين عن معلومات خلفية حول المعاملات أو الشراكات التجارية المحتملة.

وبالاستفادة من التكنولوجيا، تواصل شركة Al Tamimi & Company التركيز على الحفاظ على معايير الامتثال الفعالة، وتقديم خدمات عملاء متميزة وتحقيق النمو المستدام.

تعدّ Al Tamimi and Company شركة رائدة في مجال الخدمات القانونية المتكاملة في دولة الإمارات العربية المتحدة ومنطقة الشرق الأوسط وشمال إفريقيا، ولها 17 فرعاً موزّعاً في 10 دول. تدأب الشركة، منذ تأسيسها في عام 1989، على توفير الحلول القانونية المبتكرة والفعالة من حيث التكلفة لمعالجة التحديات المعقدة المرتبطة بالأعمال.  

يضمّ فريقنا ما يزيد عن 580 مهنياً يجمعون بين الخبرة القانونية العميقة المقترنة بالرؤى العملية، ما يتيح لهم توفير المشورة القانونية التي تركز على المسائل التجارية والتي تدعم النجاح المستدام للعملاء وتحفّزه. من خلال الجمع بين الكفاءات القوية لفريق العمل مع أنظمة وتقنيات العناية الواجبة القائمة على الذكاء الاصطناعي في عمليات التحقق والتدقيق، تواصل الشركة تلبية معايير الامتثال التنظيمي وتوفير تجربة سهلة وسلسة للعملاء

للتواصل الإعلامي
Hadi Ayedh
مدير العلاقات العامة والاتصالات
هاتف: +971505490461
البريد الإلكتروني: [email protected]


GLOBENEWSWIRE (Distribution ID 1001166439)

Learning Tree International Awarded Multi-Year Sole-Award NATO NCIA Commercial Training Services Contract – IFB-CO-423236

LONDON, Feb. 24, 2026 (GLOBE NEWSWIRE) — Learning Tree International, a global leader in workforce transformation and mission-critical technology training, has been awarded a multi-year sole-award contract by the North Atlantic Treaty Organisation (NATO) Communications-and Information Agency (NCIA) as their Education and Training industry partner.

The Commercial Training Services Contract – IFB-CO-423236 includes provision of training solutions, including consultancy support, for over 3,000 students a year across European and North American NATO entities ensuring staff have the required skills for operational readiness throughout the contract term.

The award builds on a strategic partnership in support of NATO’s technical, cyber, and operational workforce development. This sole-award contract reflects NATO’s confidence in Learning Tree’s ability to deliver innovative, consistent, scalable, and mission-aligned training within one of the world’s most complex multinational defence environments.

Under the agreement, Learning Tree will deliver commercial and tailored instructor-led training and consultancy services designed to strengthen NATO’s digital, cyber, and technical capabilities across the Alliance. The training will be delivered through a combination of private team training courses and open schedules.

Strengthening the Skills of NATO’s Workforce

Learning Tree will provide training across:

With more than 50 years of experience supporting enterprise, public sector, and defence organisations in over 65 countries, Learning Tree brings deep institutional knowledge of secure delivery requirements, operational readiness standards, and evolving digital capability priorities. The company is recognised globally for delivering instructor-led training in highly regulated and security-sensitive environments.

“Being selected by NATO for a multi-year agreement reflects the strength of our partnership and the trust placed in Learning Tree’s secure workforce transformation solutions,” said David Brown, Chief Executive Officer at Learning Tree International. “For over 15 years, we have proudly supported NATO in strengthening workforce readiness across cyber, digital, and technical domains.”

As NATO continues to modernise its technology infrastructure and enhance cyber resilience, Learning Tree will provide accredited, mission-aligned training to ensure operational readiness across the Alliance.

This multi-year award further reinforces Learning Tree’s position as a premier global provider of secure workforce transformation solutions for defence and government organisations.

About Learning Tree International

Learning Tree International is a global leader in workforce development and technology training solutions. For more than 50 years, Learning Tree has helped organisations and professionals around the world develop the critical skills needed to thrive in a rapidly changing landscape. The company’s instructor-led and hybrid learning programmes empower individuals and organisations to accelerate transformation, enhance performance, and achieve lasting results.

Visit www.LearningTree.co.uk to learn more.

Media Enquiries
Learning Tree International
Email: [email protected]
Website: www.LearningTree.co.uk


GLOBENEWSWIRE (Distribution ID 9660048)

WALLIX reinforces its strategic footprint in the Middle East as demand for digital sovereignty accelerates

Paris, France – February 24, 2026, WALLIX (Euronext ALLIX), a European cybersecurity software vendor specializing in Identity and Access Management (IAM) and a recognized European leader in Privileged Access Management (PAM), marks 10 years of sustained growth in the Middle East. The region is a major contributor to the Group’s performance momentum. In 2025, WALLIX reported +37% growth in recurring revenue across EMEA (excluding France), driven in particular by approximately +40% growth in the Middle East–Africa region. Against a backdrop of escalating cyber threats and increasing digital sovereignty requirements, WALLIX continues to strengthen its position as a strategic partner in protecting critical infrastructure across the region.

A decade of local presence supporting digital sovereignty
Established in the Middle East for over ten years, WALLIX has built a strong regional footprint supported by an experienced local team and a network of more than 40 certified partners covering all Gulf countries. The company also offers local hosting facilities, addressing the growing demand for in-country data residency within national jurisdictions. This footprint is built on a “Channel First” strategy, driven by high-value-added distributors such as Cloud Dubai and SCOPE Middle East, ensuring organizations across the region rapid access to WALLIX solutions, close customer support, and agile deployment capabilities at scale.
This local presence has translated into robust performance. The Middle East–Africa region is now WALLIX’s second-largest geographic area and the leading contributor within EMEA, with growth close to 40%. Several significant contracts have recently been secured in the Middle East, including projects to secure industrial OT environments across the utilities, healthcare, and construction sectors. These wins underscore WALLIX’s commercial momentum and its ability to address the security challenges of critical infrastructure throughout the region.

« The Middle East is not a region to conquer for WALLIX, it has been part of our story since the company’s early days, often in geographically extreme and fascinating environments. Our very first commercial customer came from the Gulf region, and for more than ten years, we have built enduring relationships here with teams, partners, and customers who trust us every day,» said Ahmed Bouzid, VP Sales Middle East Africa at WALLIX.  « Today, our priority is to support the United Arab Emirates and the Kingdom of Saudi Arabia in securing both their IT and industrial OT environments with solutions that are simple, adaptable to local requirements, sovereign, and immediately operational. Solutions where architecture and customer data remain independent from sometimes intrusive extraterritorial regulations that may not be aligned with local contexts.»
Digital sovereignty: a credible European alternative
Digital sovereignty has become both an economic and strategic imperative. In the United Arab Emirates and the Kingdom of Saudi Arabia, organizations are seeking solutions capable of protecting critical assets while complying with local data governance and regulatory requirements. In a global environment where certain digital and cybersecurity technologies may be subject to extraterritorial legislation and foreign legal constraints, WALLIX promotes an independent European approach. The company delivers security solutions designed to protect national sovereignty, preserve state autonomy, and ensure full sovereign control over critical systems and sensitive data. WALLIX relies on internationally recognized standards such as ISO 27001 and offers solutions certified under the highest European security frameworks, including trusted schemes from ANSSI (France) and BSI (Germany). The company supports national initiatives aligned with the United Arab Emirates’s National Cybersecurity Strategy, the  Kingdom of Saudi Arabia’s Vision 2030, and compliance frameworks across highly regulated sectors such as finance, energy, healthcare, utilities, and government.

WALLIX One: a unified, high-performance, and agile cyber platform
As digital transformation accelerates, WALLIX supports Middle Eastern organizations in securing complex and often sensitive IT and industrial OT environments through its unified platform, WALLIX One.
The platform provides comprehensive identity and access protection, including human and non-human access control, privilege management, session monitoring and traceability, and access governance (internal, third-party, and machine-based identities). Designed for ease of adoption and rapid deployment, WALLIX One enables organizations to scale at their own pace, depending on cyber maturity, asset criticality, and operational or budgetary constraints. Deployment options include on-premises, cloud, hybrid, or managed services, allowing organizations to select the model best suited to their industry and business model, without unnecessary complexity or over-engineering.

About WALLIX
Listed on Euronext (ALLIX) since 2015, WALLIX is a European cybersecurity software vendor and a recognized European leader in Privileged Access Management (PAM). WALLIX supports public and privatorganizations in securing identities and access, strengthening operational resilience, regulatory compliance, and digital autonomy. Today, the unified WALLIX One platform protects more than 4,000 organizations worldwide. It secures identities, user access, and privileged accounts across both digital (IT) and industrial (OT) environments, enabling organizations to operate securely and evolve confidently in an increasingly complex and interconnected digital world.
www.wallix.com | [email protected]

FINANCIAL COMMUNICATION CONTACTS
ACTUS Finance & Communication
Investor Relations – Hélène de Watteville
+33 (0)1 53 67 36 33 / [email protected]

Press Relations – Déborah Schwartz+33 (0)6 27 09 05 73 / [email protected]


GLOBENEWSWIRE (Distribution ID 1001166227)

Die weltweit bedeutendsten Aufenthalts- und Staatsbürgerschaftsprogramme im Jahr 2026

LONDON, Feb. 24, 2026 (GLOBE NEWSWIRE) — Während europäische Programme weltweit weiterhin den Maßstab setzen, offenbaren die neuesten Rankings in der Ausgabe 2026 des Berichts Residence and Citizenship Programs von Henley & Partners eine deutliche Neuausrichtung im Marktumfeld für Residenz- und Staatsbürgerschaftsprogramme. Der Vorsprung Europas wird zunehmend von dynamischen Konkurrenten aus dem Nahen Osten, dem asiatisch-pazifischen Raum sowie Lateinamerika und der Karibik infrage gestellt. Es zeichnet sich ein klarer Trend ab: Global mobiles Kapital und Top-Talente suchen neue Standorte für die Zukunft.

Während Malta im Global Citizenship Program Index 2026 bereits zum elften Mal in Folge auf Platz 1 bleibt, führt Griechenland erneut den Global Residence Program Index an. Die Ranglisten gelten als die fundierteste Vergleichsinstanz für Residenz- und Staatsbürgerschaftsmodelle. Sie basieren auf der unabhängigen Analyse eines Expertenrats aus international renommierten Einwanderungs- und Staatsbürgerschaftsspezialisten, Ökonomen und Risikoanalysten.

Neue Marktteilnehmer und schnelle Aufsteiger mischen die Rangliste auf

Der spektakulärste Sprung des Jahres gelang den VAE: Sie stiegen von Platz 5 direkt auf den 2. Rang des Global Residence Program Index vor und kamen zum ersten Mal unter die Top 3. Auch im asiatisch-pazifischen Raum und in Mittelamerika ist Bewegung im Markt. Costa Rica, Neuseeland, Panama und Singapur konnten aufsteigen, während auch Malaysia, Mauritius und Thailand kontinuierlich Boden gutmachen.

Gleich drei Länder feiern ein starkes Debüt im Global Residence Program Index: Uruguay steigt direkt auf Platz 5 ein, Saudi-Arabien belegt Platz 9 und die Malediven landen auf Platz 11. Dies unterstreicht die zunehmende geografische Bandbreite attraktiver Residenzprogramme.

Ein ähnliches Bild zeigt sich beim Global Citizenship Program Index: Hier verbesserten mehrere etablierte Programme aus der Karibik und der MENA-Region ihre Positionen, während mit Samoa und São Tomé und Príncipe zwei neue Akteure erstmals in die Rangliste aufgenommen wurden.

Dr. Christian H. Kaelin, Vorsitzender von Henley & Partners, ist der Meinung, dass die Ergebnisse einen entscheidenden Wendepunkt für politische Entscheidungsträger darstellen: „Die Ergebnisse von 2026 spiegeln eine strukturelle Evolution wider – Europa bleibt hochattraktiv, verliert aber an relativer Dominanz. Fortschrittliche Staaten wie Singapur und die VAE setzen auf strategische Beziehungen zu global mobilen Investoren. In Zeiten, in denen ausländische Direktinvestitionen, Unternehmertum und fiskalische Stabilität kritisch sind, werden politische Planungssicherheit und Offenheit zu entscheidenden Wettbewerbsvorteilen.“

Staaten im Wettbewerb um Kapital und Talente

Die Prognosen für 2026 zeichnen das Bild einer massiven Neuorientierung: Wohlhabende Familien verlagern ihren Lebensmittelpunkt in einem bisher nie dagewesenen Ausmaß ins Ausland. Die attraktivsten Standorte zeichnen sich dabei dadurch aus, dass sie rechtssichere Residenz- oder Staatsbürgerschaftsprogramme, die gezielt auf die Bedürfnisse internationaler Investoren und Entrepreneure zugeschnitten sind. Wie intensiv dieser Wettbewerb geworden ist, zeigt die Bilanz von Henley & Partners: In nur einem Jahr wurden Kunden aus 95 verschiedenen Ländern beraten. Ein strategisches „Wohnsitz-Portfolio“ gehört für global agierende Familien heute schlicht zum guten Ton.

Die beiden heute veröffentlichten Indizes vergleichen 40 Top-Programme – ausgewählt aus über 100 weltweiten Optionen. Bewertet werden Schlüsselkriterien wie Renommee, Lebensqualität, Compliance, Investitionsanforderungen, Steuereffizienz, Bearbeitungsstandards und Mobilität. Auf diese Weise lässt sich vergleichend feststellen, wie gut sich die Länder positionieren, um global mobile Investoren und Talente anzuziehen und zu halten.

Dr. Juerg Steffen, CEO von Henley & Partners, betont den Wandel der Aufenthalts- und Staatsangehörigkeitsprogramme: weg von der bloßen Einnahmequelle, hin zum strategischen Wirtschaftsinstrument. „Regierungen setzen diese Programme ein, um sich langfristige Vorteile zu sichern – sie ziehen Unternehmer, Investoren und international mobile Familien an, die zu Innovation und Wachstum beitragen. Für Familien wiederum ist Mobilitätsplanung heute ein Teil des Risikomanagements und der Chancengestaltung. Diejenigen Länder, die Klarheit, Stabilität und attraktive Aufenthalts- und Staatsbürgerschaftsmodelle bieten, sind im Vorteil.“

Wohlstand sucht neue Heimat

Für Investoren und wohlhabende Familien, die ihre Optionen genau abwägen wollen, stehen interaktive digitale Vergleichstools für alle 40 Programme bereit.

Dominic Volek, Group Head of Private Clients bei Henley & Partners, sieht eine fundamentale Verschiebung: „Vermögen verlagert sich heute schneller als je zuvor. Wo es sich am Ende konzentriert, entscheidet die Glaubwürdigkeit der staatlichen Angebote für Investoren, Unternehmer und vermögende Familien. Länder, die ökonomische Dynamik, Rechtssicherheit, politische Stabilität, eine starke Infrastruktur und klare Richtlinien für Antragsteller vereinen, werden die Gewinner der Migration sein. Kapital und Talent folgen dorthin, wo die Tür für Mobilität offensteht.“

Volek ergänzt, dass dies auch ein neues Verständnis von Sicherheit und Beständigkeit widerspiegelt: „Aufenthalts- und Staatsbürgerschaftsrechte werden in zunehmendem Maße nicht mehr vererbt, sondern erworben – man baut sich ein Portfolio an Zugangsrechten auf, um über Generationen hinweg flexibel zu bleiben. Wer Mobilität als langfristige Strategie anstatt als Notfallplan begreift, kann in einer Welt, in der sowohl Kapital als auch Talente stark fluktuieren, Krisen besser bewältigen, Chancen nutzen und sich Optionen offen halten.“

Lesen Sie die vollständige Pressemitteilung

Sarah Nicklin
Group Head of PR
[email protected]
+27 72 464 8965


GLOBENEWSWIRE (Distribution ID 1001166019)

Programas de Residência e de Cidadania Mais Importantes do Mundo em 2026

LONDRES, Feb. 24, 2026 (GLOBE NEWSWIRE) — Embora os programas europeus continuem a definir a referência globalmente, os últimos rankings da edição de 2026 do relatório Residence and Citizenship Programs da Henley & Partners revelam uma recuperação acentuada no cenário de migração de investimentos. O interesse na Europa está sendo cada vez mais concorrido em todo o Oriente Médio, Ásia-Pacífico, América Latina e Caribe — sinalizando uma mudança na forma como o capital e o talento com mobilidade global estão se reposicionando para o futuro.

Malta continua em 1º lugar no Global Citizenship Program Index de 2026 pelo 11º ano consecutivo, e a Grécia mais uma vez lidera o Global Residence Program Index de 2026. Os rankings são publicados como parte do benchmark comparativo mais reputado de opções de migração de investimento, avaliados de forma independente por um painel de experts em imigração e cidadania, bem como acadêmicos, economistas e especialistas em risco nacional reconhecidos internacionalmente.

Novos Participantes e Empresas em Rápida Ascensão Modificam o Ranking

Os Emirados Árabes Unidos apresentaram o aumento mais impressionante do ano, passando do 5º para o 2º lugar no Global Residence Program Index e entrando no Top 3 pela primeira vez. Um forte impulso ascendente também é evidente na Ásia-Pacífico e na América Central, com Costa Rica, Nova Zelândia, Panamá e Singapura subindo no ranking, ao lado de ascensões constantes da Malásia, Maurício e Tailândia.

Três países entram pela primeira vez para o Global Residence Program Index: O Uruguai entra em 5º lugar, a Arábia Saudita estreia em 9º e as Maldivas em 11º — ressaltando a crescente expansão geográfica das ofertas de residências competitivas.

Um padrão semelhante de modificação também pode ser visto no Global Citizenship Program Index, onde vários programas estabelecidos do Caribe e MENA aprimoram suas posições, com dois novos participantes — Samoa e São Tomé e Príncipe — entrando no ranking pela primeira vez.

O Dr. Christian H. Kaelin, Presidente da Henley & Partners, disse que esses resultados marcam um importante ponto de inflexão para os formuladores de políticas. “Os resultados de 2026 em conjunto refletem uma evolução estrutural: A Europa continua altamente atraente, mas seu domínio relativo está diminuindo. Países com visão de futuro, como Singapura e Emirados Árabes Unidos, estão se envolvendo estrategicamente com investidores móveis em todo o mundo. Em um momento em que o investimento estrangeiro direto, o talento empreendedor e a resiliência fiscal estão sendo essenciais, a certeza e a abertura das políticas são vantagens competitivas decisivas.”

Governos Competem por Capital e Talento

As projeções de migração de milionários para 2026 apontam para uma onda sem precedentes de famílias abastadas se deslocando para outros países, com os principais destinos para entradas líquidas em todas as estruturas de residência formal e/ou cidadania previstas para atrair investidores e empreendedores internacionais. Refletindo essa competição acelerada, a Henley & Partners integrou clientes de 95 países nos últimos 12 meses — evidências claras de que a gestão estruturada de portfólios com domicílio está se tornando comum entre famílias com mobilidade global.

Neste contexto, os dois índices publicados hoje avaliam 40 programas líderes — selecionados entre mais de 100 em todo o mundo — em critérios-chave, incluindo reputação, qualidade de vida, conformidade, requisitos de investimento, eficiência fiscal, padrões de processamento e resultados de mobilidade. Juntos, eles fornecem uma medida comparativa de quão efetivamente os países estão se posicionando para atrair e reter investidores e talentos com mobilidade global.

O Dr. Juerg Steffen, Diretor Executivo da Henley & Partners, disse que os programas de residência e cidadania evoluíram para instrumentos centrais da estratégia econômica do governo, em vez de simples canais de receita. “Os governos estão implantando essas estruturas para garantir uma vantagem de longo prazo — atraindo empreendedores, investidores e famílias com mobilidade global que contribuem para a inovação e o crescimento. Por outro lado, para famílias com exposição global, o planejamento da mobilidade tornou-se um elemento central da gestão de riscos e da criação de oportunidades. Jurisdições que oferecem clareza, estabilidade e vias atrativas para residência e cidadania estão se posicionando para vencer.”

Riqueza em Movimento

Também estão disponíveis comparações digitais interativas dos 40 programas diferentes de residência e cidadania,, permitindo que investidores e famílias globais abastadas selecionem o que é mais importante para eles ao avaliar suas opções.

Dominic Volek, Dirigente do Grupo de Clientes Privados da Henley & Partners, disse que os dados confirmam uma mudança global fundamental. “A riqueza está se realocando em um ritmo sem precedentes. O local onde isso se concentrará dependerá da credibilidade com que os países elaborarem seus planos de imigração para investidores, empreendedores e famílias abastadas. Países que oferecem dinamismo econômico, segurança jurídica, estabilidade política, infraestrutura robusta e processos transparentes para os solicitantes estão se consolidando como os principais destinos de fluxo migratório líquido. Onde há opções de mobilidade viáveis, o capital e o talento também estão presentes.”

Ele acrescenta que isso reflete uma reavaliação mais profunda do risco e da permanência. “Os direitos de residência e cidadania são cada vez mais reunidos em vez de herdados — portfólios estruturados de direitos de acesso construídos para criar resiliência entre gerações. As famílias que encaram a mobilidade como uma estratégia deliberada de longo prazo, em vez de um plano de contingência, estarão em melhor posição para absorver impactos, aproveitar oportunidades e preservar a flexibilidade em um mundo onde tanto o capital quanto o talento são altamente voláteis.”

Leia o Comunicado de Imprensa Completo

Sarah Nicklin
Dirigente de Relações Públicas do Grupo
[email protected]
+27 72 464 8965


GLOBENEWSWIRE (Distribution ID 1001166019)

The World’s Most Important Residence and Citizenship Programs in 2026

LONDON, Feb. 24, 2026 (GLOBE NEWSWIRE) — While European programs continue to set the benchmark globally, the latest rankings in the 2026 edition of Henley & PartnersResidence and Citizenship Programs report reveal a marked recalibration in the investment migration landscape. Europe’s appeal is increasingly being challenged by dynamic competitors across the Middle East, Asia-Pacific, Latin America, and the Caribbean — signaling a shift in how globally mobile capital and talent are repositioning for the future.

Malta retains 1st place in the 2026 Global Citizenship Program Index for the 11th consecutive year, and Greece once again tops the 2026 Global Residence Program Index. The rankings are published as part of the most established comparative benchmark of investment migration options, independently assessed by a panel of leading internationally recognized immigration and citizenship experts as well as academics, economists, and country risk experts.

New Entrants and Rapid Climbers Reshape the Rankings

The UAE records the year’s most striking rise, moving from 5th to joint 2nd place on the Global Residence Program Index and entering the Top 3 for the first time. Strong upward momentum is also evident across Asia-Pacific and Central America, with Costa Rica, New Zealand, Panama, and Singapore all climbing the rankings, alongside steady gains by Malaysia, Mauritius, and Thailand.

Three countries make notable first appearances on the Global Residence Program Index: Uruguay enters in 5th place, Saudi Arabia debuts in 9th, and the Maldives in 11th — underscoring the widening geographic spread of competitive residence offerings.

A similar pattern of recalibration is evident on the Global Citizenship Program Index, where several established Caribbean and MENA programs improve their positions and two new entrants — Samoa and São Tomé and Príncipe — join the rankings for the first time.

Dr. Christian H. Kaelin, Chairman at Henley & Partners, says the findings mark an important inflection point for policymakers. “Together, the 2026 results reflect a structural evolution: Europe remains highly attractive, but its relative dominance is declining. Forward-thinking countries such as Singapore and the UAE are engaging strategically with globally mobile investors. At a time when foreign direct investment, entrepreneurial talent, and fiscal resilience are critical, policy certainty and openness are decisive competitive advantages.”

Governments Compete for Capital and Talent

Millionaire migration projections for 2026 point to an unprecedented wave of affluent families relocating across borders, with the leading destinations for net inflows all operating formal residence and/or citizenship frameworks designed to attract international investors and entrepreneurs. Reflecting this accelerating competition, Henley & Partners onboarded clients from 95 countries over the past 12 months — clear evidence that structured domicile portfolio management is becoming mainstream among globally mobile families.

Against this backdrop, the two indexes published today benchmark 40 leading programs — selected from over 100 worldwide — across key criteria including reputation, quality of life, compliance, investment requirements, tax efficiency, processing standards, and mobility outcomes. Together, they provide a comparative measure of how effectively countries position themselves to attract and retain globally mobile investors and talent.

Dr. Juerg Steffen, Chief Executive Officer at Henley & Partners, says residence and citizenship programs have evolved into core instruments of economic government strategy rather than simple revenue channels. “Governments are deploying these frameworks to secure long-term advantage — attracting entrepreneurs, investors, and internationally mobile families who contribute to innovation and growth. At the same time, for globally exposed households, mobility planning has become a core element of risk management and opportunity creation. Jurisdictions that offer clarity, stability, and attractive pathways to residence and citizenship are positioning themselves to win.”

Wealth on the Move

Interactive digital comparisons of the 40 different residence and citizenship programs are also available, enabling global investors and wealthy families to select what matters most to them when weighing up their options.

Dominic Volek, Group Head of Private Clients at Henley & Partners, says the data confirms a fundamental global shift. “Wealth is relocating at an unprecedented pace. Where it ultimately concentrates will depend on how credibly countries design immigration frameworks for investors, entrepreneurs and wealthy families. Countries that combine economic dynamism, legal certainty, political stability, strong infrastructure, and clear pathways for applicants are emerging as the primary net inflow destinations. Where credible mobility options exist, capital and talent follow.”

He adds that this reflects a deeper reassessment of risk and permanence. “Residence and citizenship rights are increasingly assembled rather than inherited — structured portfolios of access rights built to create resilience across generations. Families that approach mobility as a deliberate long-term strategy, rather than a contingency plan, will be best positioned to absorb shocks, capture opportunity, and preserve optionality in a world where both capital and talent are highly fluid.”

Read the Full Press Release

Sarah Nicklin
Group Head of PR
[email protected]
+27 72 464 8965


GLOBENEWSWIRE (Distribution ID 1001166019)

‘Nothing Compares to Human Lives Lost’ – Reflections on Ukraine War

Ukrainian Red Cross teams have delivered over 3,300 hot meals to Kyiv residents at support points around the city. Credit: Red Cross

Ukrainian Red Cross teams have delivered over 3,300 hot meals to Kyiv residents at support points around the city. Credit: Red Cross

By Ed Holt
BRATISLAVA, Feb 24 2026 – “We have a saying here in Ukraine now – ‘young people meet at their friends’ funerals rather than at weddings.’ It’s sad, but very true.”

As Russia’s full-scale invasion of her country moves into its fifth year, Iryna Yakova, 29, is looking back at how her life has changed over the past four years.

Speaking from Lviv, the western Ukrainian city where she lives, she tells IPS that her “values and attitude towards life” have changed. “Material things become unimportant when your loved ones or friends are in danger,” she says. She has also developed a keen sense of her national identity and an empathy for the suffering of her fellow Ukrainians.

“During the full-scale invasion, I realised that all of Ukraine is my home. I cry for people who were killed by a missile in Kyiv while they were sleeping at night. Even though I didn’t know them, it hurts me because they are Ukrainians. It also pains me to see children growing up without their parents because their parents are at the front. The war has intensified my sense of empathy and belonging.”

Her mental health has suffered. She says anxiety is ever-present in her life.

But what she returns to often as she answers questions about how her life is today compared to before the war is the loss she, and others, have experienced.

“What I miss most [from my life before the full-scale invasion] are the people who have been killed in the war. I have lost friends, acquaintances, and relatives. Nothing compares to human loss. The hardest thing I have had to deal with during this war is going to the funerals of friends — people you used to go to parties with, travel with, study with,” she says.

The human cost of Russia’s full-scale invasion of Ukraine has been enormous – Ukraine’s government does not officially give figures for military casualties, but it has been estimated they could be up to 600,000 (Russian military casualties are thought to be more than twice that amount).

But the scale of civilian casualties has been huge, too. According to UN bodies, more than 15,000 civilians have been killed and over 41,000 injured in Ukraine since the start of the invasion on February 24, 2022.

Worryingly, as Ukraine marks the fourth anniversary of the start of the war, research suggests there has been a sharp increase in civilian casualties over the last year.

Data from Action on Armed Violence (AOAV), released earlier this month, showed civilian casualties in Ukraine increased by 26 percent in 2025 compared with 2024, despite there being a 6 percent drop in the number of injurious explosive weapon incidents recorded nationwide.

In Kyiv, response efforts continue amid attacks on energy infrastructure and severe cold. The Ukrainian Red Cross is supporting warming centres around the clock, providing people with a safe place to warm up, receive assistance, and feel cared for during difficult conditions. Credit: Red Cross

In Kyiv, response efforts continue amid attacks on energy infrastructure and severe cold. The Ukrainian Red Cross is supporting warming centres around the clock, providing people with a safe place to warm up, receive assistance, and feel cared for during difficult conditions. Credit: Red Cross

The group said its data showed a worrying shift in the character of the conflict – the average number of civilians killed or injured per incident in Ukraine rose 33 percent over the year, with a total of 2,248 civilians reported killed (an 11 percent rise) and 12,493 injured (a 28 percent rise) by explosive violence.

This suggests that explosive weapons are being used by Russia in Ukraine in ways that generate greater civilian impact, whether through more drone strikes, heavier munitions, specific targeting choices of populated areas, or repeated strikes on urban infrastructure, the group said.

Nearly seven in ten civilian casualties recorded in AOAV data occurred in residential neighbourhoods, up from just over four in ten in 2024.

Niamh Gillen, a researcher at AOAV, told IPS it was impossible to definitively say that Russian forces were deliberately targeting Ukrainian civilians, but that “the data speaks for itself.”

“It shows that civilian areas are being attacked, that the attacks are occurring within civilian areas like hospitals, schools, cities, towns. In general, in areas where civilians are heavily concentrated, like cities and towns, villages, anywhere like that, if you’re using an explosive weapon with wide area impacts, then you’re likely to harm more civilians,” she said.

On top of the deaths and destruction Russian attacks have caused, they have also led to massive displacement. It is thought that at least 3.4 million people are internally displaced in the country. This has put massive pressure not just on the displaced themselves, but also on host communities and services.

People’s physical health has deteriorated in such conditions – the World Health Organisation (WHO) has said that more than two-thirds of the population have reported a worsening of their health since the start of the invasion.

But the harm caused by these attacks is far from just physical. Mental health professionals in the country, as well as international bodies including the WHO, have warned of a mental health crisis in Ukraine, with possibly up to 10 million people suffering with mental health problems.

IPS spoke to scores of people in cities and towns across Ukraine about how the war had affected their mental health. Many spoke of experiencing anxiety, sometimes permanently to some level, which could be intensified at any moment by the frequent sound of air raid sirens warning of an attack, or for those closer to frontlines, the sounds of explosions and bombings.

“What affects my mental health on a daily basis are the constant nighttime drone and missile attacks. Because of them, it is impossible to relax or get proper rest, as reaching a shelter for safety is essential, even at night,” Mihail*, a teenager who lives in the Kyiv region, told IPS.

The situation for many Ukrainians has acutely worsened this winter. In what has been one of the coldest winters the country has seen for many years, Russian forces have repeatedly attacked Ukraine’s energy infrastructure, resulting in massive, widespread power outages. Thermal heating facilities have also been destroyed in targeted attacks.

As temperatures have plunged to as low as minus 30 degrees Celsius on some occasions, millions of people have been left freezing in their homes.

Jamie Wah, Deputy Head of Delegation with the International Federation of Red Cross and Red Crescent Societies (IFRC) in Ukraine, said people were suffering desperately in the cold.

“Some nights have been very unbearable. There is no escape from the cold. When you leave your apartment, it’s cold. Sometimes people have been joking that it’s warmer inside a fridge than inside their apartment. I’ve been here for over four years now, and it’s been the worst winter,” she told IPS.

Humanitarian organisations, including the Ukrainian Red Cross, and state emergency services have set up emergency heating points in cities and towns where people can keep warm, recharge devices and get food.

But Wah said while this has become a humanitarian crisis, it is one of just many crises Ukrainians are battling.

“In frontline regions, there are communities that are under evacuation orders, and some communities have essentially had most of their resources cut off. Family ties are quite strained – mental health needs are also immense, not only in the frontline regions but across Ukraine,” she said.

“There are lots of repairs to homes that are needed, not to mention the energy crisis, which is a humanitarian crisis… with no heating and no electricity, just the day-to-day things – just even heating your food becomes a problem. A lot of families are having to spend more time outside their homes, having to spend more money. On top of that, the cost of living has increased. These are some of the real, tangible situations that people in Ukraine are facing now,” she added.

Amid these problems, many Ukrainians admit that they are exhausted after four years of war.

But among the many people IPS spoke to on the eve of the fourth anniversary of the war, there was a widespread, although certainly not universal, determination to not give up.

“I feel a sense of responsibility. I do not have the right to give up, because many people have died so that I could have the chance to live. Of course, there is exhaustion, but, unlike those in the military, a civilian like me has time to rest and reset,” said Iryna.

For many, such resilience is born out of a desire not just for them and their country to survive what they see as Russia’s attempt to destroy them as an independent state and nation, but also a hope that, ultimately, there will be some justice served for what has been done to them.

The Russian military and authorities have repeatedly been accused of war crimes, crimes against humanity, breaches of international humanitarian law, as well as genocide, during the invasion of Ukraine.

The sheer volume of alleged crimes – at least 180,000 war crimes have been registered by Ukraine’s Prosecutor General – and the constraints of documenting, investigating and prosecuting during an ongoing conflict mean that bringing those behind them to justice was never expected to be easy. Only over 100 people have been prosecuted in Ukraine so far for crimes during the invasion.

But there are fears that international bodies such as the International Criminal Court (ICC), which has issued an arrest warrant for, among others, Russian President Vladimir Putin over alleged war crimes, could be rendered increasingly toothless in their ability to ever prosecute major figures who ordered such crimes because world leaders, such as US President Donald Trump, are no longer interested in upholding international justice for war crimes.

“I truly hope that the war will end very soon and that all war criminals will be brought to justice. However, what I see happening right now is the opposite: while institutions like the UN are unable to punish Russia, people are starting to forget about its war crimes. Countries are gradually lifting sanctions,” said Mihail.

“For example, Russian athletes are going to be able to take part in the Paralympics this year. As a result, people who committed war crimes just months or years ago can now take part in one of the world’s biggest sporting events. So we need to act – by refusing to normalise aggression, keeping sanctions firm and, most importantly, remembering about war.”

Others, though, are more hopeful.

“There is no doubt among Ukrainians that war criminals can be brought to justice,” Oleh Martynenko, an expert at the Ukrainian NGO Center for Civil Liberties, which documents war crimes, told IPS.

“This is evidenced by the participation of Ukrainians in international missions and courts where war criminals have been convicted. Also, thanks to the European Union, Ukrainians are building their own criminal prosecution systems, which provide for the arrest and imprisonment of Russian war criminals in accordance with UN international standards,” he said.

Regardless of these concerns and the other problems Ukrainians are facing as the full-scale invasion goes into its fifth year, some are looking to the future with a degree of hope.

“I feel a mix of determination, resilience, anger, and hope of victory,” Tetiana, a nurse in the Dnipropetrovsk region, who asked not to be identified for security reasons, told IPS. “Glory to Ukraine!” she added.

*Name changed to protect identity.

IPS UN Bureau Report

 


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Award-Winning Korean Premium Kids Brand oddBi Expands Presence Across the UAE and the Middle East

GWACHEON-SI, Republic of Korea, Feb. 24, 2026 (GLOBE NEWSWIRE) — oddBi, a South Korean premium kids and family lifestyle brand, announced that its signature product, the Hi Me Backpack, has been honored with the German Design Award 2026 and the Asia Design Prize 2026, reinforcing the brand’s international design recognition.

In Korea’s premium kids segment, oddBi is widely appreciated by families for its standout design and real-world practicality. The brand is known for products that are easy to care for, designed for everyday family routines, and genuinely loved by children. A key differentiator is the “make-it-mine” experience: children can personalize their bags with accessories, enjoying the feeling of creating a bag that reflects their own style.

These same priorities—design, easy care, practicality, and personalization—are increasingly shared by modern families in the Middle East. As a result, oddBi is steadily gaining recognition among customers in the region, particularly in the UAE, including discerning families who seek distinctive, premium Korean children’s products.

The brand has also built early visibility through parent-focused communities and regional social media creators, alongside growing engagement through oddBi’s global online channels. This growing regional interest reflects the brand’s core values and direction. oddBi also views the UAE and the wider Middle East as key markets, where a growing number of families value premium quality, distinctive design, and products that children genuinely love to use.

As part of its global expansion strategy, oddBi participated in Ambiente 2026 in Frankfurt, Germany, where it met with buyers and explored long-term distribution partnerships, successfully concluding the exhibition with strong international interest. oddBi welcomes retail and distribution inquiries across the GCC and will continue market-specific initiatives in 2026.

Media & Partnership Inquiries
Email: [email protected]
Website: https://global.oddbi.com
Instagram: @oddbi_daily

About oddBi

oddBi is a South Korean premium kids and family lifestyle brand that designs customizable products to support children’s individuality and creativity. The brand combines design excellence with practical details for modern families while steadily expanding its international presence.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f3caa2ca-1b4f-4a79-8c6a-53d485974c0f


GLOBENEWSWIRE (Distribution ID 9659960)

Russia Assessing the Benefits of WTO Membership

By Kester Kenn Klomegah
MOSCOW, Feb 24 2026 – Despite consistent criticisms over its operations down the years, Russia still finds it difficult to leave the World Trade Organization (WTO), and instead assessing the opportunities and broad benefits of membership. WTO is not just an organization, but a multilateral bridge for strategic trade engagement and securing results-oriented partnerships. Certainly, unlocking and accelerating trade initiatives should be the key focus in the changing world.

Russian Deputy Prime Minister Alexey Overchuk underscored the importance of the work of the WTO, which regulates global trade, further suggested optimizing its operations. Some experts believe the WTO has effectively been paralyzed due to conditions created by the current geopolitical shifts from United States power dominance and its tariffs policy, to the emerging multipolar architecture.

In his view, this reason is driving the current changes as well as “the desire of specific countries, business groups, and companies to establish control, including over deposits of critical minerals, and new transport and logistics routes that ensure the delivery of resources and goods necessary for the functioning of economies.”

“Because whoever succeeds in doing this will secure a leadership position in the world with a new socio-economic order, and, consequently, will create better conditions for the emergence of new enterprises, new jobs, new sources of income for individuals and legal entities, new sources of budget revenue, and, ultimately, of course, a better standard of living for their own population,” Overchuk said, at the forum “Architecture of the Future: Russian Business in Key Multilateral Platforms.”

In his opinion, sanctions, tariff and non-tariff restrictions are playing an increasingly important role in international economic relations, and Western countries are using instruments of unfair competition. Experts believe that Russia has not received substantial economic benefits from its WTO membership.

Now, the world is moving away from globalization altogether, with many countries introducing ever more restrictive measures based solely on their own interests, disregarding international rules.

Experts agree that the WTO crisis is part of a broader process of transformation of the global economy. In a mid-February Rossiyskaya Gazeta, Pavel Seleznev, faculty dean at the Russian Financial University, pointed to the “erosion of international law” and the transition to a model based on “might makes right” and bilateral agreements. According to him, the world is shifting away from multilateral mechanisms toward agreements concluded outside the framework of international institutions.

Russian Chamber of Commerce and Industry’s Customs Policy Council Chairman, Georgy Petrov, however described what is happening as a “phase change”: classical globalization is giving way to regionalization, where trade flows and rules are concentrated within macro-regions and political decisions become the basis of economic policy, rather than the other way around.

In practice, this manifests as a sharp increase in restrictive measures. Dmitry Krasnov, managing director of the Rexoft Consulting Competence Center in Agriculture, also noted that participants in international trade are increasingly introducing unilateral steps that contradict established multilateral rules.

Meanwhile, the assessment of Russia’s WTO membership remains mixed. According to Krasnov, the organization provided “leverage for predictability”: multilateral commitments on tariff and non-tariff policies created a clear framework for the state and businesses, reduced arbitrary barriers, and provided opportunities for arbitration.

Petrov recalled that “the main tariff positions were fixed,” and entrepreneurs understood the limits of rate changes. This made customs and tariff policy more stable.

The reduction in tariffs provided for in the accession terms also had a dual effect. In Russia, some industries faced increased competition due to reduced protectionism upon accession to the WTO. According to Petrov, many manufacturers felt the need to produce higher-quality, more competitive products, which was a positive development.

Pavel Seleznev, faculty dean at the Russian Financial University, on the other hand, believes that Russia has not gained any significant economic benefits from its membership. However, even in the current situation, maintaining its membership status allows Russia to continue engaging in dialogue and expressing its views, even with unfriendly countries.

Russia remains the member of the WTO and views its norms as fair and useful but the issue of keeping membership in conditions of sanctions pressure is not a simple one, Foreign Minister Sergey Lavrov said, on February 11, in the State Duma, the lower house of the Russian parliament.

Moscow believes it is necessary to revive the WTO as the sole recognized regulator of multilateral trade. “The issue is difficult and is under control with us and with the economic bloc of the government,” Lavrov said. “The WTO is experiencing crisis at present, just as the Bretton-Woods System on the whole,” he noted.

WTO principles and norms “are clearly established in agreements governing our trade relations with the overwhelming majority of countries of the world, including the global majority countries accounting for more than 70% of the Russian trade turnover,” the top Russian diplomat said. “One more circumstance that cannot be ignored is that the entire legal system of the Eurasian Economic Union rests on these WTO norms,” he noted.

The G20 Summit held on November 22-23 in Johannesburg, at the initiative of South African President, Cyril Ramaphosa, the joint declaration which was adopted, called for major reforms and stabilization of the global economy in 2026. “We recognize that meaningful, necessary and comprehensive reform of the WTO is essential to improve its functions so that it is better suited to advance all Members’ objectives,” the declaration read.

At the same time, G20 leaders emphasized its importance as an instrument for resolving trade disputes between countries. “We will strive to ensure that the benefits of trade reach all segments of society and that all people have the opportunity to benefit from trade,” the document reads.

In summary, the collective declaration advocated also for the swift implementation of the agreements reached within G20 to strengthen the role of countries from the Global South and East in the International Monetary Fund (IMF) and the World Bank (WB), taking into account their real weight in global economy. It is also important to revive the WTO as the sole recognized regulator of multilateral trade.

Russia joined the WTO in April 2011 after almost 18 years of persistent struggle and several negotiations, and adopting consistent efforts to meet the stringent membership requirements. It is the only international body now supervising world trade.

WTO has 153 members, and negotiations on the admission of a new member are held within a working group that unites countries that have unsettled trade problems with the candidate. It was established on January 1, 1995, as the successor to the General Agreement on Tariffs and Trade (GATT) that had been operating since 1947.

Kester Kenn Klomegah focuses on current geopolitical changes, foreign relations and economic development-related questions in Africa with external countries. Most of his well-resourced articles are reprinted in several reputable foreign media.

IPS UN Bureau

 


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