More action needed to fight protectionism, boost trade: PM

Brisbane

WHILE trade and infrastructure are both essential to stimulating economic growth, the recent trends are "worrying", says Singapore Prime Minister Lee Hsien Loong.

"Trade is becoming more restrictive. (There has been a) significant slowdown in the last few years, with trade growth decelerating sharply (in real terms) to below GDP growth, which is quite contrary to (historical) trends," he said in an address to world leaders in Brisbane during a working dinner last Saturday.

Calling on the G-20 to come up with a "holistic strategy" on trade to arrest this trend, Mr Lee stressed the need for greater action to fight protectionism and f…