THE OECD, WTO and UNCTAD in their eighth report to the G20 have called on governments to step up efforts to resist protectionism in the face of continuing high unemployment and a weak economic recovery as there is need for strengthened multilateral co-operation and to demonstrate leadership in keeping markets open.

The persuasion towards protectionism is as strong today as ever with the crisis continuing to undermine our economies,” said OECD Secretary-General Angel Gurría. Now more than ever governments must hold firm on their commitments to open and transparent investment. G20 leaders have a critical role to play in revitalizing the multilateral trading and investment system. 

According to analysis of actions taken between May 2012 and October 2012,G20 members have on the whole continued honoring their pledge not to introduce new restrictive investment measures, Brazil, Canada, India, Mexico, Russia and Turkey amended their investment policies, while almost exclusively reducing restrictions to international capital flows and improving clarity for investors, according to the report.

G20 leaders have committed to resist protectionism and promote global trade and investment at summits since 2008. They mandated WTO, OECD and UNCTAD – the leading international organisations in international trade and investment policies to monitor developments and report publicly on countries' adherence to their commitments.