People wearing protective masks in the wake of novel coronavirus or COVID-19 outbreak.
People wearing protective masks in the wake of novel coronavirus or COVID-19 outbreak.
PTI Photo

In a video message, World Trade Organization (WTO) Director-General Roberto Azevedo said cross-border trade and investment flows have a role to play in efforts to combat the COVID-19 pandemic, and will be vital for fostering a stronger recovery once the medical emergency subsides.

He said global solutions are needed to address the global challenge brought about by the pandemic.

WTO economists are analysing the fallout from the crisis and will report their findings and projections for trade in 2020 and 2021, Azevedo added.

"Although the report is still a few weeks away, the economists foresee a very sharp decline in trade," he said.

This does not augur well for WTO member countries like India which are not recording healthy growth in exports.

"Once the medical crisis begins to recede, trade will allow countries to help each other grow, bringing faster and stronger economic recovery for all of us. The WTO will do its part," he added.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in