ICC: Keep markets open

June 9, 2011 at 7:00 am

The International Chamber of Commerce is urging G20 leaders to keep markets open to trade, saying a joint report on G20 trade and investment measures by the World Trade Organization, Organization on Economic Cooperation and Development and United Nations Committee on Trade and Development is “worrying” because it found an increase in restrictive trade measures in the past six months.
   That report, released May 24 by the WTO, OECD and UNCTAD, found G20 members implemented 30 new export restrictions from October 2010 to April 2011.
   “This occurred despite the G20’s reaffirmation at the 2010 Seoul Summit to resist protectionism until the end of 2013,” the ICC said. “G20 leaders had agreed early that year, at their Toronto Summit, to withdraw any protectionist measures in the pipeline, including export restrictions and WTO–inconsistent measures for stimulating exports. The WTO-OECD-UNCTAD report reveals that the exact opposite is taking place.”  Read more.

American Shipper, 6/1/2011

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Entry filed under: American Shipper, ICC.

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