Brussels, 01/06/2012 (Agence Europe) - The picture painted by the seventh report by the WTO, OECD and UNCTAD on trade and investment restrictions makes grim reading. The G20 nations (South Africa, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, the United States, India, Indonesia, Japan, Mexico, Russia, Turkey and the EU) come nowhere near fully meeting their pledges to fight protectionism. The report points out that the G20 governments have not stopped introducing new trade restrictions and have slowed down the removal of existing restrictions. In a press release issued on 31 May, the WTO says that in total, 3% of world import and nearly 4% of the trade of G20 nations are affected by trade restrictions. Between October 2011 and 30 April 2012, some 13 of the G20 nations introduced measures covering investment, national security or foreign trade deals, most of which increased transparency for investors and opened up markets, but other measures, like the expropriation of Spanish oil company Repsol in Argentina and new entry restrictions have increased the perception of risk and could damage the business climate and economic recovery, explains the report. The OECD says the G20 governments should prevent any further deterioration in the collective direction of their trade and investment policies, and should focus on open markets to encourage economic recovery. All three organisations say they fear that the accumulation of new restrictions, along with government impotence, will cause further problems in the global economy. (EH/transl.fl)