WTO supports APEC against trade protectionism
World Trade Organisation (WTO) director-general Pascal Lamy has come out in support of the Asia-Pacific Economic Cooperation (APEC) fight against trade protectionism.
In Singapore to meet the APEC ministers this week, Lamy said governments should have political resolve to combat protectionism.
“We have seen an increase in restrictive trade measures since the onset of the crisis, so there is no room for complacency,” he said.
“Pressure is likely to be increased on policymakers to resort to contingency measures and other actions that restrict trade, particularly if the upward trend in unemployment persists before things hopefully get better.”
The APEC talks concluded with a commitment to the growth and facilitation of global trade, and a push to complete the WTO’s Doha round of trade negotiations in 2010.
APEC members account for about half the world’s economic output.