World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala said trade played a vital role in efforts to combat the COVID-19 pandemic and revive progress towards achieving the Sustainable Development Goals (SDGs).
During his speech at the United Nations High-Level Political Forum on Sustainable Development, which is held from July 6 to 15, the head of the WTO recalled that trade played a important role in the historic achievements of development and poverty reduction over the 30 years prior to the onset of the disease, so it will be at the centre of all efforts to put an end to it.
Okonjo-Iweala reaffirmed that reducing inequalities of all kinds is at the core of the Sustainable Development Goals, citing projections from international institutions. “But the pandemic has increased inequalities within households, within national economies and between countries,” she noted.
In this regard, he indicated that a strong international cooperation can help keep markets open, effective and predictable, including global supply chains for essential medical goods and services, and support post-crisis recovery strategies.
Un WTO Secretariat report presented to the High Level Political Forum indicates the importance of mitigating the disproportionate impact of the crisis on micro, small and medium-sized enterprises, women and developing countries that are not fully integrated into global supply chains.
On Chapter 3, the role of the International trade and the functioning of food markets“Achieving food security goals will be easier if global agricultural markets function properly,” the report says.
On Chapter 7, notes the work of the WTO on the Trade and environment, examines the Organization’s efforts to help members achieve SDGs 12 (Ensure sustainable consumption and production patterns) and 13 (Take urgent action to combat climate change and its impacts). In this regard, the report highlights the ongoing negotiation on fisheries subsidies that will help achieve target 14.6 of reducing subsidies that harm fish stocks, and that an agreement would send a broader signal that WTO members “are still capable of negotiating multilateral agreements and responding to global challenges.”
The forum is organized annually under the auspices of the United Nations Department of Economic and Social Affairs. The 2021 edition has as its theme Sustainable and resilient recovery from the Covid-19 pandemic and promotes the economic, social and environmental dimensions of sustainable development for the achievement of the 2030 Agenda.WTO Press Release)
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