Serious trade crisis looms warns International Chamber boss

"Protectionism is increasing" is the warning announced by Stephen Pattison UK CEO of International Chamber of Commerce at a recent World Trade Organisation (WTO) Forum in Geneva. Mr Patinson said that given the adverse macro-economic background, sovereign debt crisis and elections around the world it was tempting for governments to turn to protectionism. In this context, the ICC has called for the international community to strengthen the role of the WTO in monitoring compliance with trade rules. Mr Pattison added that there is significant scope to negotiate new sectoral trade agreements, particularly if business can be given a seat at the negotiating table. "The paralysis of the Doha Round should not mean the death of the WTO" he said. Mr Pattison also talk about the recent UK government measures to deal with corruption in international trade. "The Bribery Act goes further than any other act in the world to ensure bribery is removed from the supply chain" he said.

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