(MENAFN) In order to calm trade anxieties key economies are suffering from, World Trade Organization (WTO) Director-General Roberto Azevedo called on financial policymakers around the world to boost cooperation by the WTO.
Speaking at a meeting of the International Monetary Fund (IMF)'s policy setting committee, the WTO chief noted "global cooperation will be essential in easing these tensions and safeguarding the strong growth that we are seeing today."
The director general then assured "the WTO, which was created as a forum for members to hold each other to account, will play its proper role in this process."
Azevedo added "it can be argued that without the WTO, a wave of protectionist measures would have been stirred up by the 2008 crisis, significantly worsening the economic effects of that downturn."
He also raised concerns over how "a breakdown" in trade relations between leading economies might actually "derail the recovery that we have seen in recent years."
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