A previous projection of 2.4-percent growth for this year has been boosted to 3.6 percent, the organization said in a press release.

"Growth of 3.6 percent would represent a substantial improvement on the lackluster 1.3-percent increase in 2016," the Geneva-based body said.

The positive news comes after the WTO had for years warned of a lackluster global trade climate that lingered in the wake of the 2008 financial crisis.

The organization has of late voiced particular concern about the possible impacts of rising protectionism in major economies — notably from U.S. President Donald Trump's administration — that it said could dampen global commerce.

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