International trade volumes are far from perfect

WTO Director-General Roberto Azevêdo has held a speech on the tendencies of the international trade development.

According to him the growth of the international trade is still weak. Despite the increase of 2.8% in 2014 it’s still twice as small as an analogical index of the year 1990, when it was 5.1%.

It is the third year already when the growth of the international trade is less than 3%.

Mr. Azevêdo mentioned as well, that one of the most important steps in the creation of a friendly environment in the sphere of trade is the implementation of so-called Bali Package of documents by the countries WTO-members, which is now in progress.

A group of states is also working now on the expansion of the Information Technology Agreement (ITA).

Director-General noted that both ITA work and Bali Package implementation will contribute to the growth of international trade index in the coming year.

Source: https://www.wto.org/english/news_e/spra_e/spra54_e.htm

Expert’s opinion