Global trade to fall by 10 percent this yearSeptember 30th, 2009 GENEVA - Global trade, projected to fall by a full 10 percent this year, could be dealt an even bigger blow if members of the World Trade Organization were to adopt the full range of protectionist measures they are allowed, the head of the WTO has warned. Exporters could be faced with tariff hurdles twice their current level, Pascal Lamy told delegates at the annual WTO public forum.
EU warns action will be taken against protectionism in GM's sale of car unit OpelSeptember 12th, 2009 EU warns against protectionism in GM sale of OpelBRUSSELS — The European Union's competition commissioner has warned she will take action if there is any protectionism in the sale of General Motors Co.'s European unit Opel. The Belgian government says it wants the EU Commission to investigate the Opel deal amid concern that Germany allegedly sought to protect its own plants at the cost of others.
Manmohan Singh meets visiting WTO trade ministersSeptember 5th, 2009 NEW DELHI - Visiting trade ministers of more than 30 countries including US Trade Representative Ron Kirk and WTO director general Pascal Lamy met Prime Minister Manmohan Singh here. During the meeting, the ministers held a discussion regarding various vital issues.
India's view on protectionism supported by Brazil, Russia, ChinaSeptember 5th, 2009 LONDON - Major forces around the world have supported Indian Finance Minister Pranab Mukherjee's view that protectionism is a real threat to the global economy. "Emerging markets need to guard against tendencies in some developed countries to extend protectionism beyond trade to financial markets and investment," Mukherjee said in a press conference here on Friday evening.
Differences remain between rich, developing economies: LamySeptember 4th, 2009 NEW DELHI - Key differences still remain between rich economies like the US and advanced developing nations like India, China and Brazil, said World Trade Organisation (WTO) Director General Pascal Lamy here Friday. The US is ready to even clinch a final deal, but that may not exactly be the Indian view or a Chinese view or the Brazilian view, Lamy said at an interactive session organised by the Confederation of Indian Industry (CII) here, after the conclusion of the two-day mini-ministerial meeting among representatives of some 40 key WTO members.
India pushes for global trade talks, end to protectionism (Roundup)September 3rd, 2009 NEW DELHI - Hosting some 40 trade ministers from across the world for a two-day meeting here, India Thursday made a strong plea for an end to protectionism by some countries while it pushed for early resumption of multilateral trade talks and building a consensus on the way forward. In his opening remarks at the mini-ministerial meeting of the 153-member World Trade Organisation (WTO), India's Commerce Minister Anand Sharma asked the assembled dignitaries to remain conscious of the 2010 deadline to conclude the Doha Round.
Egyptian minister wants cotton trade issue resolved to lift AfricaSeptember 3rd, 2009 NEW DELHI - Speaking on behalf of African nations, Egyptian Trade Minister Rachid Mohamed Rachid Thursday called for early resolution of issues concerning global cotton trade, which remained an important crop for several countries in the continent. "African countries remain concerned that no significant progress has been made in some key issues of interest to them, Rachid told the mini-ministerial meeting of the World Trade Organisation (WTO) here.
India pushes for global trade talks, end to protectionismSeptember 3rd, 2009 NEW DELHI - Hosting some 40 trade ministers from across the world for a two-day meeting here, India Thursday made a strong plea for an end to protectionism by some countries, even as it pushed for early resumption of multilateral trade talks. In his opening remarks at the mini-ministerial meeting of the 153-member World Trade Organisation (WTO), India's Commerce Minister Anand Sharma also asked the assembled dignitaries to remain conscious to the 2010 deadline to conclude the Doha round.
WTO's chief warns against 'excessive optimism' on recoveryJuly 13th, 2009 GENEVA - World Trade Organisation (WTO) chief Pascal Lamy Monday warned his agency's member-states that they should avoid "excessive optimism" for an economic recovery. "Although financial markets are showing signs of stabilising, the crisis is far from over, in particular in many developing countries that are only now starting to feel its full force on their trade and economic growth," Lamy said.
Rich and developing countries want to restart world trade talks, discourage protectionismJuly 9th, 2009 World leaders vow to restart stalled trade talksL'AQUILA, Italy — Leaders of the exclusive club of eight industrialized leaders plus five of the fastest developing nations are calling for open markets and a battle against protectionism as the answer to the world's economic meltdown. But the need to save jobs back home is pulling them in the opposite direction.
Protectionism will worsen slowdown: Anand SharmaJune 26th, 2009 NEW DELHI - Protectionist measures by the developed economies will have an adverse impact on the downturn, Commerce and Industry Minister Anand Sharma has said, even as he reaffirmed India's commitment to the successful conclusion of the Doha Round of trade talks. In his address at the Organisation for Economic Cooperation and Development (OECD) ministerial meet in Paris Thursday, Sharma said a rule-based multilateral trading system, which is fair and equitable and addresses aspirations of developing countries, was required with respect to the stalled Doha Round.
Protectionism would deepen recession, delay recovery: IndiaJune 19th, 2009 WASHINGTON - India has cautioned nations toying with protectionist measures in the wake of the global economic crisis that such a move would not only be counterproductive, but also deepen the recession and delay recovery. "Any kind of protectionism will not only be counterproductive, but deepen the recession and delay the recovery," Commerce and Industry Minister Anand Sharma told reporters Thursday at the end of his three-day visit for talks with the US officials.
WTO chief criticises protectionismMarch 6th, 2009 WELLINGTON - The director-general of the World Trade Organisation, Pascal Lamy, has rejected the 'food miles' campaign of some European farmers who say consumers should buy local produce instead of imported foods, according to a news report Friday. Their argument says buying food from countries like New Zealand is environmentally unfriendly because of the carbon emissions involved in transporting it to consumers over long distances.
India warns developed countries against protectionismMarch 4th, 2009 NEW DELHI - India Tuesday warned against the dangers of protectionism and asked developed countries not to stop the flow of funds to developing countries due to the global economic downturn. 'Developed countries should not resort to protectionism to resolve the crisis,' External Affairs Minister Pranab Mukherjee, who is also acting finance minister, told reporters here when asked about the impact of global financial meltdown on developing countries.
China concerned over trade protectionism: OfficialFebruary 15th, 2009 BEIJING - China was 'deeply concerned' about trade protectionism, amid fears that such action would aggravate the economic downturn, an official said Monday. Ministry of Commerce (MOC) spokesman Yao Jian told a press conference that China was 'deeply concerned' over protectionism in some countries, which he didn't identify.