Roberto Azevêdo, a career Brazilian diplomat, resigned as the director-general of the World Trade Organisation effective Aug 31, the Geneva-based organisation said. Rather, he said he wanted to give WTO members a head start on choosing a successor, which is often a difficult process. A debate at the same time about the next WTO director would interfere with attempts to overcome trade disputes, Azevêdo said. “The selection process would be a distraction from — or worse, a disruption to — our desired outcomes,” he said during an online meeting with WTO members. The WTO has predicted that global trade could fall by one-third, a decline not seen since the Great Depression in the 1930s.

Source: bd News24 May 14, 2020 20:26 UTC