• search
For Quick Alerts
For Daily Alerts

WTO Chief calls for international coordinated action for global financial recovery

By Abdul Nisar

New Delhi, Nov.20 (ANI): The Director General of World Trade Organisation (WTO) Pascal Lamy has called for international coordinated policy action for a sustainable global economic recovery and creation of jobs.

Speaking at a seminar here on Friday, Lamy asserted that the measure would lead to reduction of global unbalances.

"For a sustainable global recovery there is a need for a coordinated policy action across the countries which will lead to a progressive reduction of these global unbalances and at the end of the day to a greater number of jobs," said Lamy.

He further said India would create around seven million jobs this year from exports.

"Recent studies for India show that nearly 14 million jobs were created directly or indirectly as result of increased exports between 2003 and 2008. Further more, rough, back of the envelop calculations for India suggest that, on the basis of the average pre-crisis growth in real merchandise exports, an average of over seven million jobs may be created from exports this year," said Lamy.

The WTO is the only international organisation that supervises and tries to liberalise international trade between nations. The body came into being on January 1, 1995 replacing the General Agreement on Tariffs and Trade (GATT). (ANI)

For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more