WTO, ICC leaders: Global trading system 'essential' for private sector

A well-functioning multilateral system that maintains a consistent and open trading environment is “essential” for the private sector, particularly in emerging economies, the heads of the World Trade Organization and International Chamber of Commerce said on Monday. In a joint statement following a conference on development finance in Seville, Spain, WTO Director-General Ngozi Okonjo-Iweala and ICC Secretary General John Denton argued that such a system “remains essential to enabling private sector-led growth – particularly in emerging and developing economies, where...