Daily Management Review

WTO calls on G20 countries not to impose sanctions against others


According to a report on trade monitoring and trade measures G20 released Thursday on the WTO website, the World Trade Organization (WTO) urges G20 nations not to impose restrictive measures against other nations in order to unify the global community, enable it to collaborate on challenges, defuse tensions, and ensure a sustainable economic recovery.

Jay Louvoin/ Studio Casagrande
Jay Louvoin/ Studio Casagrande
In addition to the COVID-19 pandemic, the situation in Ukraine has had a significant impact on millions of people's lives, particularly in terms of their ability to access food.

According to WTO Director, "G20 nations must display restraint in enacting trade-restrictive measures and demonstrate leadership in support of open and mutually beneficial trade."

"In the field of intellectual property, numerous G20 countries have enacted policies and sanctions that may indirectly impair the upkeep and licensing of intellectual property rights."

The group calculates that, excluding penalties, the commercial impact of export restrictions implemented by G20 economies in response to the war is projected to be $52.2 billion.

source: reuters.com