WTO Launches World Trade Report

This year's report comes at critical time.

The World Trade Organization has issued its annual World Trade Report entitled "Trade in a Globalizing World." It takes a hard look at trade, re-examining what we know about the gains from trade and where they come from. According to the report trade and globalization have brought greater prosperity to hundreds of millions as well as greater stability among nations, but it also recognizes that the benefits of greater integration and inter-dependency have not reached everyone. However WTO Director-General Pascal Lamy says there is the capacity to remedy this and extend the reach of improved living standards more widely.

"This Report could not come at a better time in the context of what we are striving to achieve here in the WTO," says Lamy. "The Doha negotiations are in a decisive phase. We should be clear. What Members achieve together next week will be judged as an indicator of the international community's willingness and ability to share in the management of globalization in an effective and equitable manner."

Ministers from several member nations are scheduled to meet in Geneva, Switzerland beginning Monday, July 21. Among the items to be ironed out are agricultural trade.

Among the subjects explored in the World Trade Report are the causes and consequences of globalization, qualified public support for globalization, sources of gains from trade, consequences of trade, and global integration and international cooperation. To view the World Trade Report, click HERE.

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