Pascal Lamy: European Economic Growth Will Increasingly Come from Emerging Economies

Pascal Lamy: European Economic Growth Will Increasingly Come from Emerging Economies

Pascal Lamy, current Director-General of the WTO, recently spoke of the increased importance of emerging economies to the EU’s long-term economic welfare. According to Lamy, within 10 years, 19 percent of European economic growth will be the result of trade outside of the European common market. Lamy also suggested that within this same timeframe, China will come to account for one third of all external growth.

In addition, Lamy also criticized EU policymakers’ relative neglect of Africa and highlighted the enormous potential of this region for the common market.

Africa is today too far away from radar screen of European trade and policymakers … There is much more to be done in Africa as a partner in growth.

Pascal Lamy, Director General, World Trade Organisation

Read More:

http://www.euractiv.com/specialreport-ebs/lamy-eu-put-china-africa-centre-news-519786

(Wikimedia Commons image courtesy of MisterE)

About the Author:

Sebastian Andrei is NABATAEANS’ editor for EU - Middle East Trade and Political Relations. He completed his undergraduate studies at the University of Vienna, where he majored in journalism with minors in political science as well as business and economics. Sebastian is responsible for reporting on the European Union’s external trade relations. He also writes about economic development and investment opportunities in Europe as well as about policy changes which affect the EU common market.

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