The World Trade Organisation (WTO) announced on Tuesday that it would suspend all its meetings after one of its members tested positive for the novel coronavirus (Covid-19).
In a statement from the trade organisation, WTO director-general Roberto Azevêdo said that all meetings would be suspended from 11-20 March as they try to contain the spread of the virus.
“We take the health of Secretariat staff and our members very seriously which is why we have taken this unprecedented step. We are monitoring the situation very closely and will take whatever measures are necessary to protect health and safety,” he said.
Global trade has been affected severely by the outbreak of the virus with the air and shipping industries reporting billions lost in revenue over the past months. The International Air Transport Association (Iata) warned earlier this month that the air industry could possibly lose an unprecedented $113 billion, while the International Chamber of Shipping (ICS) reported that the shipping sector was losing more than $350 million a week. – Bjorn Vorster
