Noting that international trade has been remarkably robust despite continuous shocks, not least the war in Ukraine, stubborn inflation and supply chain disruptions, DDG González said that « trade has played a key role in supporting economic recovery and averting shortages by bringing food and other critical supplies to where they are needed. »

« Globalization is not going away, but it is changing, » she said, adding that « businesses will need to adapt to a world of geopolitical tensions, heightened trade policy uncertainty and possibly an increasingly fragmented global economy. »

Noting the importance of reforming the WTO to safeguard rules-based trade and promote deeper trade cooperation, DDG González highlighted efforts to restore the WTO dispute settlement system. « Delivering a well-functioning dispute settlement system is an absolute priority because in a system where rules cannot be enforced, predictability suffers and it becomes harder to negotiate new rules, » she said.

DDG González called on the business community to step up its support for trade facilitation initiatives around the world. « By working together on making trade easier, faster and less costly, we can bring trade opportunities to more communities and more small- and women-owned businesses, » she said.

DDG González noted that several groups of WTO members are spearheading initiatives to respond to the way businesses trade in the 21st century. « The latest example is an agreement to cut red tape and increase transparency that will save services firms some US$ 150 billion in global trade costs annually, » she said.

« Several more deliverables are in the pipeline, » DDG González said, adding that « later this year, a group of more than two-thirds of WTO members intends to wrap-up negotiations on a set of global best practices to mobilize domestic and foreign investment. »

« A large group of WTO members is deep into digital trade negotiations that seek to deliver baseline standards and rules to promote greater cross-border interoperability, strengthen trust in digital markets and help narrow digital divides, » she said.

DDG González called on businesses to turn their net-zero ambition into action. « The WTO can be your strong ally in going green, » she said, adding that « cooperation at the WTO can promote greater coherence across climate standards, enable clean and circular business models and coordinate efforts to fight plastic pollution. »

« The WTO matters, especially in times of crisis, » DDG González said. « I call on business leaders to make the case that reforming, improving and modernizing the WTO is worth the effort, » she concluded.

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Source: https://www.wto.org/french/news_f/news23_f/ddgag_25apr23_f.htm

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