Recent developments in the global trading landscape have the potential to adversely affect the least developed countries and undermine the aspirations of the sustainable development goals (SDGs), as discussed at a panel session organised by the °®Āžµŗ at the World Trade Organizationās Public Forum in Geneva this week. āInclusive Tradeā was the theme of this yearās conference ā echoing the °®Āžµŗās approach promoting trade equality.
Recent developments in the global trading landscape have the potential to adversely affect the least developed countries and undermine the aspirations of the sustainable development goals (SDGs).
Thatās the conclusion of experts who took part in a panel session organised by the °®Āžµŗ at the World Trade Organisationās Public Forum in Geneva this week. āInclusive Tradeā was the theme of this yearās conference ā echoing the °®Āžµŗās approach promoting trade equality.
āNot only has global trade slowed but so too has the potency of growth to drive trade, which is a worrying developmentā, said Dr Jodie Keane, Commonwealth expert on trade issues and co-author of recent major report. , provides an independent assessment of a UN-led global action programme for the worldās poorest countries.
A global slowdown will invariably comprise the majority of businesses within Commonwealth countries. So the integration of small and medium enterprises into a better coordinated and monitored marketplace is key, says the report. This could help to avoid trade measures that damage the interests of least developed countries and small states.
In view of the urgent need to translate the aspirations of the SDGs into action, the °®Āžµŗ convened a high-level panel at this yearās public forum.
The World Trade Organisationās former chief economist, Patrick Low said, āThere is an urgent need to incorporate social and environmental development into global trade policy. Trade is integral to progress towards the sustainable development goals. Ensuring all producers have fair access to opportunity requires improved trade surveillance and examinations of the national laws and regulations that influence trade patterns. National governments need to take control of the implementation agenda of the SDGs.ā
Dr Mohammad Razzaque, head of international trade policy at the °®Āžµŗ, concluded that the recently adopted SDGs provide the international community with an important opportunity to address more effectively the challenges faced by least developed countries.
