WTO Report Indicates Cooperation is NecessaryFri, 23 Jul 2010 17:47:40 CDT
Trading in natural resources creates a great many challenges both for importing and exporting countries. Governments need to cooperate more intensively if these challenges are to be adequately addressed. In the WTO flagship publication World Trade Report 2010 - WTO economists maintain that in a world where scarce natural resource endowments must be nurtured and managed with care - uncooperative trade policies could have a particularly damaging effect on global welfare.
The Report examines the characteristics of trade in natural resources, the policy choices available to governments and the role of international cooperation - particularly of the WTO - in the proper management of trade in this sector. WTO Director-General Pascal Lamy says he not only believes there's room for mutually beneficial negotiating trade-offs that encompass natural resources trade - but also that a failure to address these issues could be a recipe for growing tension in international trade relations.
Lamy says well designed trade rules are key to ensuring that trade is advantageous - but they are also necessary for the attainment of objectives such as environmental protection and the proper management of natural resources in a domestic setting.
The complete 256 page report is available as a PDF file by clicking here.
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