Home / Knowledge / News / Textiles / Rise in new trade restrictions from WTO members: report

Rise in new trade restrictions from WTO members: report

02
Aug '18
Courtesy: Unsplash
Courtesy: Unsplash
World Trade Organisation (WTO) members introduced more trade-restrictive measures from mid-October 2017 to mid-May 2018 compared to the previous review period of mid-October 2016 to mid-October 2017, according to a report on trade-related developments presented by its director general Roberto Azevêdo recently at a meeting of WTO’s trade policy review body.

While WTO members continued to implement more trade-facilitating than trade-restrictive measures, the value of trade covered by the restrictive measures rose and the value covered by facilitating measures fell, a WTO press release said citing the report.

The report draws attention to this shift, and to the fact that it is taking place at a time of heightened trade tensions and associated rhetoric, which should be of concern to the international community.

"We are heading in the wrong direction, and we seem to be speeding up. Growth, jobs and recovery are at stake. I call on members to recognize the gravity of this report and its findings. We need to see immediate steps which de-escalate the situation," Azevêdo said.

WTO members applied 75 new trade-restrictive measures, including tariff increases, quantitative restrictions, imposition of import taxes and stricter customs regulations, amounting to a monthly average of almost 11 new measures. This is higher compared to the average of nine measures recorded in the previous report.

The trade coverage of the import-facilitating measures ($107.3 billion) is larger than that of the import-restrictive measures ($84.5 billion).

While this is encouraging, the ratio of the trade coverage of import-facilitating over import-restrictive measures, which was two-to-one in favour of the former in the November 2017 report, has fallen significantly for the current period review. This is a source of considerable concern and an area where continued monitoring is required, Azevêdo added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th May 2020

Iran sees high level of illegal apparel imports

Iran suffers from a high level of illegal apparel imports, with about ...

Pic: ASOS

Fashion | On 30th May 2020

Asos Marketplace sees increase in growth

In the times of lockdown, Asos Marketplace has witnessed strong...

Pic: Otrium

E-commerce | On 30th May 2020

Otrium raises €24 mn to extend fashion's life cycle

Otrium, an online fashion marketplace that helps global and...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Rushiraj Mulani,

Rushiraj Mulani

The Shradhdha Group of companies was established in 2010 and is based out...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search