International trade is going through a churn: Sivasailam

New Delhi, Dec 22 (KNN) There are uncertainties in world trade because of trade war which is causing collateral damage. International trade is going through a churn, the Special Secretary at the Department of Logistics, N. Sivasailam said.

He said this while inaugurating a program on ‘International Trade, WTO and Way Forward’, on behalf of Commerce & Industry Minister.

He said the dispute resolution mechanism which is the negotiating arm of WTO is at strain which is a matter of great concern.

He further said that Public Sector Entities (PSEs) are proactively addressing the development agenda of the nation and the government expects them to proactively engage in case of WTO reforms.

This programme was organized in the backdrop of India's growing role in international trade and commerce and the opening of the economies globally.

SCOPE and Indian Institute of Foreign Trade (IIFT) jointly organized program.

 Dr. U.D. Choubey,  Director General, SCOPE  while welcoming expressed concern on the ongoing tariff war, supremacy of currency and policy of protectionism which is restricting free trade between the nations. He also said such tariff war is self-defeating and predicted that in the current circumstances, next recession is not far off. India cannot remain untouched.