The International Chamber of Commerce (ICC) today denounced the move of G20 countries for taking more protectionist measures as the move is affecting badly the trade globalization process. A joint report by the World Trade Organization (WTO), Organization for Economic Co-operation and Development (OECD) and United Nations Committee on Trade and Development (UNCTAD) on G20 trade and investment measures, released last week, found that more new trade restrictive measures were implemented in the past six months than in any previously reported period. From October 2010 to April 2011 alone, G20 members implemented 30 new export restrictions.

Expressing concerns about the protectionism, ICC in a statement issued today from its Paris headquarters and emailed to media, said this trend undermined policies for economic recovery and job creation at a time when the world economy remains at risk.

The statement said the G20s was following protectionism despite reaffirmation at the 2010 Seoul Summit to resist such practice until the end of 2013.

“G20 leaders had agreed early that year, at their Toronto Summit, to withdraw any protectionist measures in the pipeline, including export restrictions and WTO-inconsistent measures for stimulating exports,” ICC said.