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| Trade restrictions amidst economic uncertainty |
| WTO, 07.12.2022 |
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| WTO Director-General Ngozi Okonjo-Iweala called on WTO members to refrain from adopting new trade-restrictive measures, particularly export restrictions, that can further contribute to a worsening of the global economic outlook and urged them to cooperate to keep markets open and predictable in order to allow goods to move around the world to where they are needed.
Although some of these export restrictions have been lifted, many others persist," she said. "Out of the 78 export restrictive measures on food, feed, and fertilizers introduced since the start of the war in late February, 57 are still in place, covering roughly USD 56.6 billion of trade. These numbers have increased since mid-October, which should be a cause for concern."
Initiations of trade remedy investigations declined sharply during the review period (10.9 initiations per month, the lowest since 2012) after reaching its highest peak in 2020 (36.1 initiations per month). These actions remain an important trade policy tool for many members, accounting for 37.4% of all non-COVID-19-related trade measures on goods recorded. Anti-dumping continues to be the most frequent trade remedy action in terms of initiations and terminations.
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
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