Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>  Daily News  >>  Asean's Trade Partners  >>  Trade  >>  WTO sees rising protectionism amidst crisis

NEWS UPDATES 
2 July 2009

WTO sees rising protectionism amidst crisis

Related Stories

July 1, 2009
Indonesian firms not ready for Asean-China FTA

June 25, 2009
Thai PM in China to promote trade, tourism

June 21, 2009
Philippines ask Japan to boost investment

June 18, 2009
Indonesia sees FTA with Japan to boost autoparts shipments

The World Trade Organisation warned on Wednesday of rising protectionism amid the economic crisis as it sharply cut its forecast for trade volumes of developed and developing economies this year, reported AFP.

Making its latest assessment of the global economic situation, the WTO also observed that the sharp contraction of the global economy registered in the first quarter this year "appears to be slowing down."

However, citing risks including rising unemployment and oil prices, the organisation lowered its forecast of global trade contraction to 10.0 percent from its March forecast of a shrinkage of 9.0 percent.

Trading volumes of developed economies are now expected to shrink by 14.0 percent instead of 10.0 percent while those of developing economies would contract 7.0 percent, rather than the earlier forecast 2.0-3.0 percent.

Amid the economic crisis, the WTO said in its report to member states that there has been a growing number of instances of protectionism.

"In the past three months, there has been further slippage towards more trade restricting and distorting policies," it said in the report.


 

 

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below 

Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com