Trade is a great leveller, but barriers still remain: WTO
The Dollar Business Bureau | @TheDollarBiz “We are living off the liberalisation and reforms of the past.” - Roberto Azevêdo, DG, WTO Trade will be the major driver of development in the 21st century, and countries must facilitate trade reforms and remove trade barriers to help the Least Developed Countries (LDCs) benefit from multilateral trade, Roberto Azevêdo, Director-General of the World Trade Organisation (WTO) said at the launch of the annual World Trade Report yesterday. According to the WTO report, global trading system has helped reduce the gap between developed and developing countries in the last two decades. The report speaks about the three major waves of economic development the world has seen since the industrial revolution of the late ...
WTO slashes 2014 global trade growth forecast to 3.1%
The Dollar Business Bureau | @TheDollarBiz Source - WTO secretariat The World Trade Organisation (WTO) has lowered its forecast for global trade growth in 2014 to 3.1%, down from 4.7% estimated in April this year. WTO says that the downward revision is mainly due to sub-par trade growth in the first half of 2014. WTO economists have also lowered their estimate for trade growth in 2015 to 4% (down from 5.3% estimated in April) in anticipation of continued geopolitical tensions and uneven growth in the coming months. WTO Director-General Roberto Azevêdo said, “International institutions have significantly revised their GDP forecasts after disappointing economic growth in the first half of the year. In light of this, the WTO’s forecasts for trade ...
