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15 trade associations urge nations to safeguard WTO system
15
Dec '17
15 trade associations urge nations to safeguard WTO system
Fifteen trade and industry associations from across the world have urged the World Trade Organisation (WTO) member nations to safeguard the WTO system, support the least developed countries (LDCs) and fight hunger, take into account the new trade environment and adopt an ambitious work programme on issues of crucial importance for businesses.

In times of significant challenges for the world trading system and rising protectionism, companies worldwide are waiting impatiently for governments to show leadership and allow WTO to deliver, the associations said in a press release.

The associations include the American Apparel and Footwear Association, Footwear Retailers and Distributors of America, EuroCommerce, European Services Forum, Foreign Trade Association, Korea International Trade Association, Japan Services Network, National Retail Federation and Retail Council of Canada.

The associations urged governments across the world to support the proper functioning of the WTO system to preserve a rules-based trading system and back LDCs by concluding talks on agriculture, taking a more ambitious approach to fisheries subsidies and fighting hunger.

Though the services sector has been growing and is a dominant part of the economy in many countries, the WTO has made little progress on disciplines related to that since the Uruguay Round, the press release said.

The associations feel new forms of global trade should be better reflected in WTO trade rules. (DS)

Fibre2Fashion News Desk – India


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