SUMMARY
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Pascal Lamy, head of the World Trade Organization (WTO), confirmed that growth in global trade would remain below 4% this year and urged governments against protectionism. Annual growth in world trade has averaged 6% over the past 15 years, but this year will be below 4%, Lamy told France’s BFM radio, blaming the slowdown on a sluggish world economy. But Lamy said the rough patch should not be an excuse for political leaders to give in to protectionism. In April, the WTO warned that world trade growth, which slowed in 2011 after a big rebound in 2010, would weaken again this year and grow by 5.6% in 2013.
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