41 countries raise concerns over rising trade tensions and protectionism
10 May 2018 - by
Forty one developed and developing countries this week raised concern over increased trade tensions and risks of escalating protectionism in the multilateral trading system and world trade in a joint statement to the World Trade Organisation (WTO) this week.
The statement called on governments and WTO members to refrain from taking protectionist measures and avoid risks of escalation by resolving their differences through dialogue and cooperation and making use of dispute systems put in place by the WTO.
They said a “well-functioning, rules-based” multilateral trading system was of key importance for their economies along with global economic stability, prosperity and development.
Co-sponsors of the statement included countries from Africa, South America, Europe and the Middle East as well as China.