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A cargo ship passes through a lock on the Panama canal (Photo: thinkpanama)

World trade falls by 12 percent in 2009

World Trade Organisation director-general Pascal Lamy has said international trade fell by 12 percent in 2009, a marked deterioration on previous estimates which put the drop closer to 10 percent.

Completion of the stalled Doha round of multilateral trade talks is therefore more necessary than ever, said Mr Lamy at an event organised by the European Policy Centre in Brussels on Wednesday (24 February).

"If there was a geopolitical consensus in launching the Doha development round...

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A cargo ship passes through a lock on the Panama canal (Photo: thinkpanama)

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