Reports
Lamy calls for trade opening to continue as global economic outlook worsens
21/11/2011
Director-General Pascal Lamy, in his annual report to WTO
members on developments in the international trading environment, published on
21 November 2011, told members that “in a context of greater economic
uncertainty and rising global risks, it is all the more important that the
process of global trade opening continues”. In the light of a worsening of the
global economy in recent months, with the forecast for world export growth
revised downwards to 5.8% in 2011, he warned that unilateral action to shield
domestic industries will not solve global problems but might make things worse
by triggering a spiral of tit-for-tat reactions in which every country will
lose.