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Monday, 18 June 2012

Calls to strengthen trade rules

According to Pascal Lamy, WTO Director-General, in his comments during a conference on global commodities finance, held in Geneva, governments’ sensitivities on commodities can lead to policies that backfire, sometimes with disastrous results. Therefore the trading community should lobby governments to strengthen trade rules and avoid the pitfalls.
Speaking of the G-20 Summit, he notably said: “I am concerned by the persistence of finance gaps in the most challenging regions of the world. The lower-income countries where many of you often operate. For this reason, the G-20 Summit in Cannes endorsed the WTO’s recommendations for trade finance facilitation programmes for SMEs in developing countries; in particular, in Africa. I believe that continued G-20 involvement, starting with the upcoming G-20 Summit in Los Cabos, Mexico, will be necessary. This will keep the trade and development communities mobilized […]”

Source: WTO

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