Trade restrictions are increasing, especially on food: WTO
FILE PHOTO: People buy vegetables at a shop in Taipei, Taiwan, November 29, 2022. REUTERS/Ann Wang
GENEVA: The World Trade Organization said in a report on Tuesday (Dec 6) that countries were introducing trade restrictions at an increased pace, particularly on food, feed and fertilisers.
"Out of the 78 export restrictive measures on food, feed, and fertilizers introduced since the start of the war in late February, 57 are still in place, covering roughly US$56.6 billion of trade," said WTO Director-General Ngozi Okonjo-Iweala.
"These numbers have increased since mid-October, which should be a cause for concern," she said.
However, nearly 80 per cent of COVID-19 trade restrictions have been repealed, the report said, citing data through to mid-October.
