At a crucial moment in the world, which must change course to ensure a greener and safer future, senior representatives of governments, businesses and civil society analysed the priorities that the World Trade Organisation (WTO) must follow to strengthen the multilateral system, in line with the Sustainable Development Goals.
To this end, the participants presented this Wednesday (29.09.2021/XNUMX/XNUMX) in the Public Forum issues that require attention such as climate changewave Pandemic response and the digital economy. Also, the need to ensure that the WTO can better address issues that have been on its negotiating agenda for years, such as agriculture, disciplines on fisheries subsidies and special and differential subsidies, plus the treatment of developing countries and least developed countries.
To make it, John WH Denton, Secretary General of the International Chamber of CommerceHe stressed: “For the WTO to be useful to us, it has to work, it has to be fit for purpose.” He added: “The issues it deals with have to be 21st century issues. It needs to deal with issues that it has been told to deal with because they are relevant issues.”
Along those lines, Denton said: “We need to address the issues surrounding the pandemic (…) We need to learn from what just happened and prepare the organisation to deal with health crises in the future, which has to deal with the digital agenda and needs to bring climate and trade together (…). We cannot have companies operating on a planet that is not actually operating.”
To its turn, Carlos Maria Correa, Executive Director from the South Centre, stressed the need to overcome the current fragmentation in the international system of trade rules and called for a trade system that is focused on the needs and rights of people.
He noted that the COVID-19 crisis has shown the world the deep asymmetries that exist in many economic, social and health aspects and that the post-pandemic reality must be an opportunity to create a new system based on equality and solidarity that is truly effective. He added: “The world should be different from the one that COVID-19 found.”
«The system of c“Multilateral trade must be part of a mechanism that promotes well-being at a global level,” he said. “Trade is not an end in itself, but an instrument to pursue other higher objectives, including taking into account the interests and needs of the most vulnerable groups of the population.”
Then, Yeo Han-Koo, Minister of CommerceThe Republic of Korea's trade minister stressed the importance of the digital and high-tech economy to the WTO's work. From a country whose main export in the 1960s was wigs, Korea has managed to become one of the world's leading exporters, starting with textiles and light electronics, and specialising in automobiles and semiconductors, he explained.
The government’s proactive role, promotion of public-private partnership and a strong commitment to digitalisation was Korea’s formula for success, which could be replicated by developing countries, particularly if WTO members finalised an agreement on e-commerce, he said. “Digital trade rules could really pave the way to bring many other developing countries onto this fast track of development.”
"If we maintain our focus on innovation and maintain this strong will to turn a crisis into an opportunity, then I believe we will emerge from this crisis stronger than before the pandemic," he said.
Otunba Richard Niyi Adebayo, Minister of Industry, Trade and Nigerian Investments said WTO reform should focus on issues that are central to the interests of developing and least developed countries and that have been the subject of ongoing negotiations at the WTO for years.
He said: “I honestly believe that there needs to be a reform that addresses the concerns and priorities of developing countries, particularly the mandated issues that remain unresolved but remain extremely important: strengthening special and differential treatment, agricultural issues such as domestic support, the special safeguard mechanism and public stockholding are crucial to address food and livelihood needs.”
Ensuring that future digital trade rules allow sufficient policy space for developing countries, streamlining notification requirements and reforming WTO TRIPS rules to strengthen access to innovation were also cited by the Minister as important priorities. “I believe that if these reforms are implemented, it will be of great help to developing countries,” he noted.WTO Press Release)
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