The ongoing conflicts in the Middle East are expected to have a contained effect on the region’s trade activity and would only have “really severe” implications if they escalate, the World Trade Organisation has said. Global trade is forecast to rebound in 2024 but this would be limited by geopolitical tensions and economic policy uncertainties, setting the stage for flat growth over the next two years, the Geneva-based body said at the launch of its Global Trade Outlook and Statistics 2024 report.
