WTO chief sees bigger than expected trade contraction

PARIS Wed Jun 24, 2009 10:12pm IST

Pascal Lamy, Director-General of the World Trade Organization (WTO), attends the European Business Summit in Brussels March 26, 2009. REUTERS/Eric Vidal/Files

Pascal Lamy, Director-General of the World Trade Organization (WTO), attends the European Business Summit in Brussels March 26, 2009.

Credit: Reuters/Eric Vidal/Files

Related Topics

PARIS (Reuters) - World trade volume is likely to contract by a record 10 percent this year, a "huge drop", rather than the 9 pct forecast by the World Trade Organisation in March, WTO Director-General Pascal Lamy said on Wednesday.

"That's the situation and I'm afraid I can't read any good news in my trade numbers," Lamy told Reuters Television.

Lamy said he was hearing from the WTO's 153 members that they wanted to conclude the long-running Doha round to free up world trade in 2010.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage