Trade barriers a worry, says WTO
With unemployment remaining high, we need to remain vigilant, notes Lamy
Sharing concerns of India and other developing countries, the WTO, on Thursday, said protectionism is major concern and expressed confidence that a deal on opening the world trade further is possible this year.
“We need to remain vigilant. With unemployment remaining high, protectionist pressures remain a worry,” WTO Director General Pascal Lamy told PTI here.
Lamy said the international trade body will continue to keep a close watch on protectionist measures that impede international free trade. “We at the WTO secretariat will continue monitoring these developments through 2010,” he said.
India and several emerging economies like Brazil have raised concern over the protectionist measures in the West, especially after the global financial crisis. The stance against protectionism got support from South Korea with its President Lee Myung-bak saying that “G-20 summit had played a pivotal role in resisting protectionist pressures and we need to reaffirm the importance of continuing our stance against protectionism”. Concluding the Doha development agenda before the end of the year should be given the highest priority.
On the possibility of concluding the Doha Development Round of trade of talks, Lamy said reaching the agreement is “doable in 2010” but “we now need to see it done”. “We have planned a schedule of technical work over the next months. Governments will assess at the end of March is it still feasible to conclude negotiations this year,” he said. Lamy said it would require co-operation from all the 153 members of WTO for a successful outcome. “The challenge confronting the membership now is to move from words to deeds and wrap the Doha Round deal in 2010.”
India matters, says Sarkozy
India, Latin America and Africa must be taken on board while framing the rules for globalisation in the post-economic crisis scenario, French President Nicolas Sarkozy said, reports PTI from Davos.
“We cannot govern the world of the 21st century with the rules and principles of the 20th century. We cannot govern globalisation while relegating half of humanity to the sidelines, without India, Latin America or Africa,” he said.
Sarkozy said post-crisis world has to be viewed differently from what happened before the second half of 2008.
