Courtney Agencies Ltd. provides a weekly industry news update to its clients.
Please click here to receive this update by email.
December 22, 2017
WTO countries imposed fewer trade restrictive measures this year
A recent report from the World Trade Organization (WTO) shows that the organization's members introduced 108 new trade-restrictive measures between mid-October 2016 and mid-October 2017, an average of 9 measures per month compared to 15 in the previous period.
During the same period, WTO members implemented 128 measures aimed at facilitating trade. At almost 11 trade-facilitating measures per month, this remains significantly lower than the monthly average recorded in the previous annual overview report. It is noteworthy that the estimated trade coverage of import-facilitating measures (US$ 169 billion) is more than twice that of import-restrictive measures (US$ 79 billion).
The WTO notes that there was a slight deceleration both in initiations of trade remedy investigations and in terminations of trade remedy measures compared to the previous annual overview and to the whole of 2016. The trade coverage of trade remedy initiations and terminations recorded in the report is estimated at US$ 76 billion and US$ 12 billion, respectively.
"The economic context for this year's report is interesting, to say the least. International trade flows have rebounded strongly during the last 12 months after a sharp slowdown in 2016," said WTO Director-General Roberto AzevÍdo. "Looking ahead, we need to keep up the hard work to help facilitate trade. And of course, this includes avoiding measures which can hamper and restrict trade flows".
|Copyright 2006. All Rights Reserved.|