Chairman of WTO conference affirms failure to resolve global crisis

12/16/2011

Chairman of WTO conference affirms failure to resolve global crisis

GENEVA, The chairman of the 8th conference of the World Trade Organization criticized on Friday ineffective reactions of major powers to the global financial and economic crises.

Olusen Agana, also Nigeria's Minister of Trade and Investment, said in a statement at inauguration session of the international organization conference that measures that had been taken by major powers were insufficient to resolve the ongoing global crisis.

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He slammed politicians for influencing nations' decisions in this respect, noting that such crisis, to be resolved, would warrant economic reforms and trade liberalisation.

The WTO official also expressed criticisms of protectionism policies adopted by some of the nations that were affected with the crises.

Priority should be given to common interests of nations of the globe, he said, criticing some countries for adopting national economic policies of isolation.

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