WTO Members Eye Enhanced Trade Policy Support and Faster Digital Trade Growth
Geneva, March 25, 2025 (WTO News) – World Trade Organization (WTO) members are exploring ways to strengthen support for trade policies and accelerate the expansion of digital trade, aiming to boost economic development and integration across the globe. During discussions held today, members focused on how the WTO can better equip developing countries and least-developed countries (LDCs) with the tools and resources necessary to fully participate in the global trading system.
Bolstering Trade Policy Support:
A key topic of discussion revolved around enhancing the effectiveness of the WTO’s technical assistance programs. These programs are designed to help developing countries build the capacity needed to implement WTO agreements, negotiate trade deals, and navigate the complexities of international trade.
Specifically, members considered proposals to:
- Increase Funding and Resources: Calls were made to allocate more financial and technical resources to WTO’s development assistance programs. This would allow for a wider range of training programs, expert consultations, and infrastructure improvements in developing countries.
- Tailor Programs to Specific Needs: Emphasis was placed on developing more targeted and customized assistance programs. Instead of a one-size-fits-all approach, the WTO aims to understand the unique challenges and opportunities faced by each developing country and tailor support accordingly. This could involve focusing on specific sectors, such as agriculture, manufacturing, or services, or addressing particular barriers to trade like cumbersome customs procedures or lack of access to financing.
- Improve Monitoring and Evaluation: Discussions highlighted the need for robust monitoring and evaluation mechanisms to assess the impact of technical assistance programs. This would help ensure that resources are being used effectively and that programs are achieving their intended objectives. It would also allow the WTO to learn from past successes and failures and make necessary adjustments to improve future programs.
- Strengthen Partnerships: Members emphasized the importance of collaboration with other international organizations, development agencies, and private sector entities to leverage expertise and resources. This collaborative approach aims to create a more comprehensive and coordinated framework for trade-related assistance.
Fast-Tracking Digital Trade Growth:
The meeting also focused on unlocking the potential of digital trade to drive economic growth and development. Recognizing the rapid advancements in technology and the increasing importance of e-commerce, members discussed strategies to:
- Promote Digital Inclusion: Efforts are being made to bridge the digital divide by expanding access to internet connectivity and digital infrastructure in developing countries. This includes initiatives to improve access to affordable internet services, promote digital literacy, and support the development of e-commerce platforms.
- Facilitate Cross-Border Data Flows: Discussions centered on establishing clear and predictable rules for cross-border data flows, which are essential for e-commerce and other digital trade activities. The goal is to balance the need to protect privacy and security with the need to facilitate the free flow of information.
- Address Regulatory Challenges: Members acknowledged the need to address regulatory challenges related to digital trade, such as consumer protection, cybersecurity, and intellectual property rights. The focus is on developing common standards and best practices to ensure a safe and secure online environment for businesses and consumers.
- Support Small and Medium-Sized Enterprises (SMEs): Recognizing the vital role of SMEs in digital trade, members explored ways to provide them with the necessary support to participate in e-commerce. This includes initiatives to provide training on e-commerce platforms, access to financing, and assistance with navigating regulatory requirements.
Looking Ahead:
The discussions held today reflect a growing recognition of the importance of trade policy support and digital trade in achieving sustainable development goals. WTO members are committed to working together to implement these proposals and create a more inclusive and equitable global trading system. Further discussions are planned in the coming months to refine these strategies and develop concrete action plans. The ultimate goal is to empower developing countries and LDCs to harness the benefits of trade and technology for economic growth and prosperity.
Members look into bolstering support for trade policies, fast-tracking digital trade growth
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At 2025-03-25 17:00, ‘Members look into bolstering support for trade policies, fast-tracking digital trade growth’ was publi shed according to WTO. Please write a detailed article with related information in an easy-to-understand manner.
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