Economic Affairs Minister Zypries today met with the Director- General of the World Trade Organisation (WTO) Roberto Azevêdo. The focus of their discussions was on current trade policy issues.
Federal Minister Zypries said: “The World Trade Organisation is committed to open markets and fair trade. We need a strong WTO, especially now when free trade is under attack. We are working together with the WTO against foreclosure and protectionism, because this path is an economic dead end. Free and fair trade is the key to more employment, growth and prosperity for all.”
The WTO currently has 164 member countries. As the youngest member, Afghanistan joined the WTO on 29 July 2016. Another 21 countries - including Somalia, Serbia and Bosnia-Herzegovina - are in the process of accession, which is currently ongoing. Germany was one of the founding members of the WTO in 1995.
Germany has a share of 7.2 percent in overall global trade. Many sectors of the German economy are highly dependent on exports. This also has an impact on employment, with every fourth job in Germany directly or indirectly connected to exports.