WTO's Lamy Says Rising Tide of Restrictive Measures in Past 7 Months a "Serious Concern"
The rising tide of restrictive trade measures over the past seven months is a “matter of serious concern,” said World Trade Organization Director Genera Pascal Lamy at an informal meeting of heads of delegations June 7, and “this situation is adding to the downside risks to the global economy and what is now a volatile global context.”
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Referencing a report on trade restricting measures, released on May 31, Lamy said restrictive measures put in place since October 2008, excluding those that were terminated, is estimated to be almost 3% of world merchandise trade, and almost 4% of G-20 trade.
Lamy called for the delegations to collectively and urgently redouble efforts to “strengthen multilateral co-operation to find global solutions to the current economic difficulties and risks and avoid situations that would cause further trade and investment tensions.”