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The Gulf countries have been working on the unified tourist visa – similar to Schengen-style visa – for over one year
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WTO slashes 2012 global trade growth
World trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization said on Friday.
The estimate was a revision of the WTO’s previous 2012 growth forecast of 3.7 percent, which it made in April. It also forecast trade would expand by 4.5 percent in 2013, revised down from 5.6 percent.
“I see the risk more on the downside than the upside,” WTO Director General Pascal Lamy said at a press conference in Singapore.
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