World trade is the driving force behind growthWorld trade is the driving force behind growth

World trade is the driving force behind growth

Paris, 22 October 1999 -- ICC President Adnan Kassar has urged World Trade Organization ministers when they m eet in Seattle to continue what he calls "the beneficial process of opening up world markets". Extracts from an article by Mr Kassar to be distributed in Seattle feature in ICC's "Case for the Global Economy" web pages.

Saying that the hopes of millions for a better life require that the liberalization process be maintained, Mr Kassar cited WTO statistics showing that growth in world trade has invariably far outstripped growth in world output over the past 50 years. This shows the increasing share that trade occupies year by year in global economic activity.

Also new to the Case for the Global Economy:

• items from an OECD study demonstrating that trade and foreign direct investment are major engines of economic growth
• brief extract from an editorial in The Economist of 9 October 1999 explaining why trade benefits the environment
• , Globalization and Interdependence, to the UN General Assembly.