BREAKING NEWS

BREAKING NEWS

WTO warns against protectionism

Now Reading:

WTO warns against protectionism

Text size Aa Aa

The World Trade Organisation has said that global trade is slowing and it has cut its estimates for growth this year from 6.5 percent to 5.8 percent.

The head of the WTO, Pascal Lamy, warned against protectionist moves by governments saying: “This is not the time for go-it-alone measures. This is the time to strengthen and preserve the global trading system so that it keeps performing this vital function in the future.”

The forecast is much lower than last year when global trade grew by over 14 percent after a 12 percent slump in 2009.