Tuesday 20 August 2019

Roberto Azevedo

Global trade growth likely to stay strong at 4.4pc: WTO

GENEVA, April 13, 2018

Global trade is expected to remain strong, with the merchandise trade volume growing 4.4 per cent in 2018 and 4.0 per cent in 2019, said Roberto Azevedo, director-general of the World Trade Organisation (WTO).

The continued expansion depends on robust global growth and governments' support for right trade policies, reported Emirates news agency Wam, citing an annual forecast from WTO.

However, the WTO cautioned that there are signs that escalating trade tensions may already be affecting business confidence and investment decisions, which could compromise the current outlook.

"The strong trade growth that we are seeing today will be vital for continued economic growth and recovery and to support job creation," said Azevedo in a news conference in Geneva yesterday (April 12).

He warned that this important progress could be quickly undermined, “if governments resort to the restrictive trade policies especially a tit-for-tat process that could lead to unmanageable escalation."

Tags: WTO | World Trade Organisation |

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