Travel restrictions and border closures imposed by countries as part of the initial policy response to contain the spread of the coronavirus have directly affected trade in goods and services, according to the new report. informative note of the WTO.
Such measures have disrupted cargo transport, business travel and the provision of services that depend on the presence of people abroad, the statement said.
He added that travel restrictions are likely to represent a substantial increase in business costs while they remain in place.
The note has examined the impact of the pandemic on the key components of trade costs, particularly those related to travel and transportation, trade policy, uncertainty, and identifies areas where higher costs may persist even after the pandemic is controlled.
"Travel restrictions and border closures have been an important part of the policy response to the onset of the Covid-19 pandemic, and these measures have directly affected trade in goods and services," the text says.
The note adds that while maritime and land transport have not faced comparable shocks, maritime transport has experienced a significant decrease in the number of departures, while international land transport has been affected by border closures, health measures and diversions.
The World Trade Organization (WTO) is a multilateral organization based in Geneva that deals with issues relating to global exports and imports. It has 164 members. Argentina has been a member since January 1, 1995.
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