The International Chamber of Commerce, worried by a recently released WTO-OECD-UNCTAD report that found a rise in protectionist measures in G20 countries, has urged the leaders of the bloc to keep the markets open to trade.
The joint report by the World Trade Organisation, Organisation on Economic Co-operation and United Nations Committee on Trade and Development released on May 24 found that more new trade restrictive measures had been implemented in the past six-month period than in any previously reported period, said a ICC news release on Wednesday.
The news release said from October 2010 to April 2011, G20 members implemented 30 new export restrictions.
“Given that the results of the WTO-OECD-UNCTAD report are based on self-reporting from G20 countries, and that they most likely reported only what was necessary, we can assume that trade protectionism is actually worse,” said ICC secretary general Jean-Guy Carrier. “This worrying trend undermines policies for economic recovery and job creation, at a time when the world economy remains at risk.”


