On 4 December 2017 the Director General of the World Trade Organization (WTO) presented to members the annual overview report on trade-related developments.
Member countries of the WTO introduced fewer trade-restrictive measures in the year to mid-October 2017 compared to the previous year and implemented more trade-facilitating than trade-restrictive measures despite the challenging economic environment. In terms of the amount of trade covered the measures to facilitate imports accounted for more than double the amount of trade affected by the import-restricting measures. The report noted that the import-facilitating measures implemented during the period under the expanded Information Technology Agreement (ITA) amounted to around US$ 385 billion.
There was also a slight deceleration in initiations of trade remedy investigations and in terminations of these measures compared to the previous annual overview and to the whole of 2016. The trade coverage of trade remedy initiations and terminations recorded in the report is estimated at US$ 76 billion and US$ 12 billion, respectively. Anti-dumping measures continue to make up the bulk of all trade remedy initiations.
The global economy needs transparency and predictability in trade policy and the report emphasises that WTO member countries must continue their commitment to open and mutually beneficial trade as this will drive economic growth
