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GENEVA, SWITZERLAND (OCTOBER 3, 2018) (REUTERS) 2018 WORLD TRADE REPORT DEBATE ONGOING VARIOUS OF MEMBER STATES DELEGATES (SOUNDBITE) (English) WORLD TRADE ORGANIZATION (WTO) DIRECTOR-GENERAL, ROBERTO AZEVEDO, SAYING: "We are living through an era of unprecedented technological change. Some call it the fourth industrial revolution, others call it the new industrial revolution or the new digital revolution, but whatever it is, the common theme here is that it is a revolution. Now, these technologies, like I said, are re-shaping the economy before our eyes, and more than that these are structural changes." VARIOUS OF MEMBER STATES DELEGATES (SOUNDBITE) (English) WORLD TRADE ORGANIZATION (WTO) DIRECTOR-GENERAL, ROBERTO AZEVEDO, SAYING: "The effects of all these changes will be quite significant. The report estimates that by cutting trade costs, these technologies could boost trade by up to 2 percentage points per year until 2030. And that amounts to growth of 31 to 34 percentage points over 15 years on top of what we are already expecting. Now the report also shows that the reduction in trade costs driven by these technologies can be especially beneficial for smaller businesses and for firms from developing countries." MEMBER STATES DELEGATES (SOUNDBITE) (English) WORLD TRADE ORGANIZATION (WTO) DIRECTOR-GENERAL, ROBERTO AZEVEDO, SAYING: "We have to respond to these accelerated structural changes, and we have to do so in full possession of the facts. If we misdiagnose the situation, and I think chocking off global trade is a solution, that is one possibility that people will say, 'well, these things are happening in such a way that we have to contain trade, we are losing jobs too quickly', but if we do that, if we choke trade, we will only aggravate the situation, we will be causing greater harm, we will create more unemployment." CAMERAWOMAN AZEVEDO SHAKING HANDS WITH PANELISTS ON STAGE AND LEAVING MEMBER STATES DELEGATES VARIOUS EXTERIORS OF WTO HEADQUARTERS
Dateline: 2018

Wto Sees Tech Adding One Third To Annual Trade By 2030

Item ID: 110576991

By: Reuters

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