Monday, September 20, 2010

WTO Confident of 9.5% Growth in Trade Despite Crisis in EU

(The Financial Express – Ronojoy Banerjee)

The World Trade Organisation is confident of maintaining the predicted 9.5% plus growth in world trade, organisation’s deputy director-general Alejandro Jara told FE in an interview. Jara said that despite the economic crisis brewing in the European Union and its subsequent impact on world trade, overall merchandise trade would grow at a very healthy rate. “Looking at the year so far, our experts feel that it (world trade) is going to grow around 9.5%-10%,” he said. WTO director-general Pascal Lamy had said in March that after a “dismal” year 2009 when world trade dipped 12%, it would grow at a healthy rate of 9.5% in 2010. Read more here.