World trade

WTO chief sees nothing positive for world trade
2009/06/13

PARIS: World Trade Organisation (WTO) head Pascal Lamy said yesterday he saw no "positive sign" for world trade which has been battered by the global economic crisis.
"I do not share the optimism of some governments for an economic recovery, because from the point of view of international trade, I do not see any positive sign at the moment," Lamy said during a debate here.

He also expressed "perplexity" at Russia's change of tack on joining the trade body after Moscow said it wanted membership as a regional bloc with Belarus and Kazakhstan.
Russian Prime Minister Vladimir Putin surprised the WTO on Tuesday when he said the three former Soviet countries would join together in their bids to join the WTO, seeking membership as a single customs bloc.

"Concerning Russia, there is great perplexity," Lamy said. "There is no precedent for a customs union joining," he said, adding that the organisation had not been formally notified of Russia's plan.

"WTO membership is open to entities that have an autonomous trade policy," he added.
"Whether a customs union is a sovereign body in trade matters is a subject for discussion." - AFP