Fewer trade-restrictive measures - WTO

There has been a slowdown in the imposition of new trade-restrictive measures by G-20 economies over the past five months, according to World Trade Organisation director-general Pascal Lamy. “Nevertheless, the new measures are adding to the stock of restrictions put in place since the outbreak of the global crisis, most of which remain in effect,” he said. “G-20 governments need to redouble their efforts to keep their markets open, and to advance trade opening as a way to counter slowing global economic growth. As noted in previous monitoring reports, trade restrictions and inward-looking policies will only aggravate global problems and risk generating tit-for-tat reactions. The difficulties and concerns generated by the persistence of the global economic crisis, with its many facets, fuel the political and economic pressures put on governments to raise trade barriers. This is not the time to succumb to these pressures.” And according to Lamy, trade frictions seem to be increasing. “They are reflected not only through trade remedy and dispute settlement cases under the WTO, but also through decisions affecting foreign investment and participation in infrastructure-related government procurement programmes.”