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Azevêdo: WTO celebrates 20 years of helping the global economy grow
Director-General Roberto Azevêdo, noting that the WTO will celebrate its 20th anniversary in 2015, said: “Over the past 20 years, this organization has, on balance, made an important contribution to the global economy and to smoother trading relations between nations. Indeed, at a time when the global economy is more interconnected than ever it is difficult to imagine a world without the WTO”.
The WTO at 20 — a message from DG Azevêdo
20 years ago, on 1 January 1995, the WTO opened its doors for business. Since then this organization, and the system of transparent, multilaterally-agreed rules that it embodies, has made a major contribution to the strength and stability of the global economy. Over the years the WTO has helped to boost trade growth, resolve numerous trade disputes and support developing countries to integrate into the trading system. It has also provided a bulwark against protectionism, the value of which was made plain in the trade policy response to the 2008 crisis, which was very calm and restrained in contrast to the protectionist panic that followed previous crises. Indeed, when the global economy is more interconnected than ever, it is difficult to imagine a world without the WTO.