Breaking News: WTO Releases World Trade Report 2021

Trade Facilitation Agreement's Economic Impact Highlighted

Importance of an Open and Predictable Trading Environment Emphasized

The World Trade Organization (WTO) has released its World Trade Report 2021, highlighting the critical importance of a more open, inclusive, and predictable trade environment to promote economic growth, diversification, and resilience.

The report examines the significant economic impact of the Trade Facilitation Agreement, which is projected to reduce trade costs by 14.3% globally. The WTO estimates that this could boost global trade by $1 trillion annually.

The report also identifies the need for a balanced policy mix of fiscal, monetary, and supply-side measures to support economic recovery and address the challenges posed by the ongoing COVID-19 pandemic.

Pinterest

1