Build-up of Trade Restrictions “A Matter of Concern,” Lamy Warns
The imposition of trade-restrictive measures by WTO members has continued virtually unabated over the last seven months, according to a new report issued last week by WTO Director-General Pascal Lamy, prompting concern that governments are continuing to look toward protectionist measures as a means of strengthening domestic economies.
In his biennial report to the WTO’s Trade Policy Review Body, Lamy found that 182 trade-restrictive measures – affecting 0.9% of global imports – have been implemented by WTO members and observers from mid-October 2011 to mid-May 2012, a number consistent with the number of new protectionist measures in the two previous roughly six-month intervals. Lamy called the continuing accumulation of trade restrictions “a matter of concern,” urging governments to resist new protectionist measures.
“Governments need to redouble their efforts to resist protectionist pressures and take active steps to keep markets open and advance trade liberalization,” wrote Lamy. Read more here.
Date: July 6, 2012