International trade is pivotal to economic prosperity as no country can achieve meaningful economic development in isolation. Many countries open their economies to international trade through channels such as multilateral trading systems and increased regional integration and cooperation.
However, countries have different cultures, ideologies, political, social, and economic structures impacting trade needs.
As such, it is only logical to expect that trade tensions would arise among trading countries. This necessitates international bodies such as the World Trade Organisation (WTO) to set structures that promote efficient economic activity globally.
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Esiri Agbeyi
Partner | Private Clients & Family Business Leader, PwC Nigeria
Tel: +234 (1) 271 1700
Lullu Krugel
Chief Economist and Africa Sustainability Leader, PwC South Africa
Tel: +27 (0) 82 708 2330
