The impact of the COVID-19 pandemic on the economy, trade and, consequently, on employment and the well-being of citizens "will be enormous" and can only be overcome through global solidarity, according to Roberto Azevêdo, Director-General of the World Trade Organisation (WTO), in a video from his home on Wednesday 25 March.
Recent projections predict an economic slowdown and job losses "worse than those of the global financial crisis twelve years ago", the head of the multilateral organisation warned.
Given that there is a pandemic, its response must be global, says Azevêdo. Cooperation, transparency of measures (see EUROPE 12454/19) and human solidarity are the watchwords. "No country is self-sufficient, no matter how powerful or advanced it may be" he says. He added: "History will never forget or forgive if we failed to support those that needed it most".
Azevêdo further notes that the WTO has established a working group to coordinate these efforts and work in collaboration with other international organisations. (Original version in French by Hermine Donceel)