OSCE, WTO, UN request G20 to reduce protectionism

The OSCE, WTO and the UNCTAD have requested G20 to reduce protectionism dragging global economic development. Experts were concerned about foreign investment flows, as stated in a report of the organizations made for the upcoming meeting of ministers for finances and presidents of Central Banks organized in Mexico on November 3-4, 2012, Reuters reports.

The WTO reduced forecasts for world trade growth made in April from 3.7% to 2.5% set in September 2012. Forecasts for 2013 were lowered from 5.6% to 4.5% respectively. WTO Director General Pascal Lamy said that the world trade growth totaled 5% last year.

World economic problems aggravated in spring 2012, according to the unemployment and industrial levels of the US and the economic growth in China. The European debt crisis was not resolved.

Global trade evaluation bases on the state of world economy of 157 WTO members.