Article: Import substitution brings negative sentiments - WTO

Article from:
Daily Mirror
Article date:
December 10, 2008
Copyright

Report from Daily Mirror brought to you by HT Syndication.

Colombo, Dec. 10 -- In the wake of the current financial turmoil, if countries now reactively seek protectionist policies by restricting imports and following old policies of import substitution, it would likely lead to negative results in international trade, the WTO chief said.

World Trade Organisation (WTO) Director General Pascal Lamy made these remarks to Daily Mirror FT when he met media representatives from 17 countries including Sri Lanka at the the WTO headquarters in Geneva, Switzerland.

Mr. Lamy said that countries of the world are locked into significant commitments in terms of international trade and this includes ...

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