World Economy is Passing Through a Critical Stage

Minister of Industry and Foreign Trade, Dr. Mahmoud Eissa said in his speech before the World Trade Organization (WTO) meetings in Geneva that the world economy is passing through a critical stage and repeated financial crises as well as economic imbalance in general, a matter which would require adopting more protectionist measures that will negatively affect the developing countries as they are the most affected ones by those crises.

Eissa stressed that the issue of development and completing the Doha trade round represented priority for Egypt. Eissa urged the WTO to adopt a stronger system to fight protectionist policies and to safeguard the fair trade system through offering a new reform agenda and to give observer status to all regional organizations and to permit them to take part in the WTO activities.