What’s happening to trade in the economic downturn?
International trade flows are falling and global trade could shrink this year for the first time in 30 years. In the last five months $30 trillion worth of wealth has disappeared globally. And the IMF forecasts that in 2009 the global economy will contract for the first time since the Second World War. Our priorities are to help keep markets open to help UK business overcome barriers to trade and prepare for the upturn and to ensure trade continues to contribute to sustainable development and poverty reduction. We can rebuild global prosperity and security by creating jobs and growth through open and fair markets.
