Working Group on Trade Debt and Finance - Seminar at the WTO on International Trade and Exchange Rates - Statement by the French Delegation
World Trade
Organization WT/WGTDF/W/64
25 May 2012 (12-2790) Working Group on Trade Debt and Finance Original: French
Seminar at the wto on INTERNATIONAL TRADE
AND EXCHANGE RATES
Statement by the French Delegation
France thanks the WTO and welcomes Brazil’s initiative regarding the organization of this seminar, providing an opportunity to explore, in this forum, the links between exchange rates and international trade. The various issues raised by the currency exchange question most certainly warrant our being able to discuss them here. By virtue of their role in the relative pricing of products, exchange rates are among the determinants of international trade flows. Moreover, for economic operators, exchange rate levels and variations can give rise to costs significantly higher than the customs duties payable. On the political front also, currency exchange issues can be a source of tensions between States: as has been seen recently, protectionist