While talking regional trade, we have our eyes on the global recovery from the crisis, as it has significant bearing on our trade and investment activities.
As we know, the global economic growth has shown marginal improvements in the later part of the last year and early part of the current year, impetus coming especially from advanced economies with supportive monetary conditions and fiscal consolidation; but their growth remains uneven. Inflation in these economies, however, has undershot projections reflecting commodity price decline and output gaps.