13 September, Geneva The World Trade Organisation (WTO) said in a landmark study released on Tuesday that re-globalization, or enhanced international collaboration and wider integration, may promote security, inclusivity, and environmental sustainability.
As early signs of trade fragmentation threaten to reverse growth and development, the trade organisation provides further evidence of the advantages of wider, more inclusive economic integration in the “World Trade Report” 2023 edition.
“The concept that interconnectedness among states via heightened trade and economic links would promote peace and shared prosperity was the cornerstone of the post-1945 international economic system. In her preface to the study, WTO Director General Ngozi Okonjo-Iweala stated, “This idea has guided policymakers for most of the past 75 years and helped lay the groundwork for an unprecedented era of growth, higher living standards, and poverty reduction.”
