World Trade Organization president calls for action to protect global trading system
World Trade Organization Director-General Roberto Azevedo said global trade is under threat, whether the current situation is a trade war or not, fired the first shots and this calls for action.
World Trade Organization (WTO) data showed a marked increase in trade restrictive measures over the past six months, according to an article published on the Swiss-based Swiss National Radio website.
“The continued escalation could risk great economic impact and threaten employment and growth in all countries,” he said.
“A number of import facilitation measures have been registered during the same period, but decisively, the value of trade covered by these measures is declining, while coverage of restrictive measures is increasing rapidly,” he said.
Azivido said the entire international community has a responsibility to help resolve these issues.
He consulted with governments and leaders around the world, urged dialogue and explored steps to calm the current situation.
Azivido also spoke with a wider range of contacts in civil society, including parliaments, companies, think tanks and the media, to raise awareness of what is at stake.
“I call on all those who believe in trade as a force for good, and the rules of world trade are a fundamental basis for economic stability and prosperity,” said the head of the World Trade Organization.
“Silence can prove to be devastating, like actions leading to a trade war,” he said.
He noted that there had been some signs of progress and that people were starting to raise their voices. “Business leaders and associations call on governments to refrain from introducing new barriers, they are asking governments to negotiate and find solutions.”