(MENAFN - Qatar News Agency) Director General of World Trade Organization (WTO) Pascal Lamy has warned against the negative repercussions of the global slow economic noting that the volume of the world trade growth is expected to reduce to less than 4% th current year against 5% in the past year .
In an exclusive interview with Qatar News Agency (QNA) on Tuesday on the sidelines of the the13th session of the United Nations Conference on Trade and Development (UNCTAD XIII), now in session in Doha, Pascal Lamy said the world has not yet get out of the economic crisis which began in 2008 and which repercussions continued till now especially with the aggravation of the european debt crisis, considering that such negative repercussions shrouded the growth of the world trade which downed in its natural course by 6% .
The WTO director general viewed that the slowing levels of growth in the volume of trade is due mainly to declining growth rates and economic slowdown in major global economies namely the USA, Japan, Europe, and due to the declining of exports of the world market.
Lamy pointed to the tireless efforts of the WTO is exerting to avoid negative repercussions, leading to the promotion of trade liberalization by more than it is now by working to strengthen the capacity of the large markets of the exporting countries, including the USA and Japan .
Elaborating he said that trade is one of the sectors which were affected heavily due to the lower consumption rates of the population of these countries which are enjoying high income rates.
The WTO director general further said that the changes and improvements in the framework of the WTO during the last fourteen years by working to bring about a change in the foundations of cooperation between the WTO member states at the level of trade in line with the geopolitical changes worldwide.
Lamy indicated that the most prominent of these changes is the multiplicity of the parties involved in the growth of trade, noting in this regard to the emergence of countries, such as India, China and Brazil as new economic powers saying in this context that "during the past twenty years there could not be trade agreements without the United States , the European Union, Canada and Japan , but today, it is not possible without China, India and Brazil ".
The WTO chief confirmed in his interview with QNA that the WTO has adapted to these changes through the emergence of strong new business powers.
Elaborating lamy said the emergence of china has boosted the growth of world trsade in the past ten years since the chinese trade contributions exceeded 20 % in view of the increase of its exports to several world countries.
The global financial crisis has shown that "open trade policy is essential, said WTO director general stressing meantime the need to redouble joint efforts to try to end the Doha Round of global free trade negotiations.
He noted that the Doha Round, including the largest list of claims for the liberalization of international trade, where the largest included a package of ideas in the field of global trade liberalization.
Lamy further said that the WTO member states are currently working on greater trade liberalization through research in the important issues that contribute to more open trade by focusing on the areas that contribute to facilitating trade between states through the simplification of customs procedures across the border.
