WITA International Trade Reception at the WTO Public Forum
On Wednesday, September 11, 2024 WITA held its first ever International Trade Reception at the WTO in Geneva. Guests included diplomats from WTO member countries, WTO officials, and the global business community. At the event, Ambassador Susan Schwab, the former United States Trade Representative and current Chair of the National Foreign Trade Council, presented WITA’s Global Leadership Award to WTO Director General, Dr. Ngozi Okonjo-Iweala.
Featured Remarks:
Kenneth Levinson, CEO, Washington International Trade Association
John W. Miller, Chief Economic Analyst, Trade Data Monitor
Ambassador Susan Schwab, Chair, National Foreign Trade Council
Dr. Ngozi Okonjo-Iweala, WTO Director General
Special thanks to our sponsors for the reception, Trade Data Monitor, National Foreign Trade Council, U.S. Council for International Business, American Chemistry Council, and Silverado Policy Accelerator.
09/11/2024 | WITA International
Facilitating a Circular Economy for Critical Minerals – WITA Panel at the WTO Public Forum
On Thursday, September 12, 2024 WITA hosted a panel at the WTO Public Forum in Geneva, Switzerland discussing the impending shortage of critical minerals and how international organizations like the WTO can promote recycling and reusing through trade policy reforms and enhanced reverse supply chains.
Panelists explored how the WTO can help to facilitate reverse supply chains that enhance trade in secondary, used, and reusable goods and materials. Discussants also looked at how the WTO, World Customs Organization, and Basel Agreement can work together on customs nomenclature that supports trade in reusable and recyclable materials rather than simply classifying them as “waste.”
Featured Speakers:
Jason Bernstein, Director of International Trade and Supply Chain, American Chemistry Council
Aik Hoe Lim, Director, Trade and Environment, World Trade Organization
Ana Laura Lizano, Minister Counsellor, Permanent Mission of Costa Rica to the WTO
Kelly Milton, Assistant USTR for Environment and Natural Resources, Office of the U.S. Trade Representative
Moderator: Maureen Hinman, Co-Founder and Chairman, Silverado Policy Accelerator
09/12/2024 | WITA International
World Trade Report 2024 — Trade and Inclusiveness: How to Make Trade Work for All
Over the past 30 years, the world has witnessed a period of income convergence, as the gap in income levels between economies has narrowed. Economic growth has improved living conditions for many people around the world but not all individuals and economies have benefited equally from the changes brought about by more open trade. This year’s Report explores the interlinkages of trade and inclusiveness across and within economies, discussing how trade policies need to be complemented by domestic policies to make the benefits of trade more inclusive.
The Report underlines that diversifying global value chains, reducing trade costs through digitalization, and transitioning to a low-carbon economy can create new opportunities for low- and middle-income economies. Furthermore, when trade policies are complemented by domestic measures, such as labour, education and competition policies, the gains from trade can more easily flow to workers and consumers. Enhanced WTO cooperation with other international organizations can magnify their combined action to increase inclusiveness across and within economies.
09/10/2024 | World Trade Organization
30 Years On: A Call to Action to Restore Economic Cooperation at the WTO
“Opportunity.” That was the word that Peter Sutherland, the first WTO Director-General, used to describe the creation of the new global framework to govern trade in goods and services, back in 1994. He specifically referred to “opportunities to expand trade, economic growth and employment … opportunities to promote sustainable development… And an opportunity — the most significant we have had for fifty years — to build a new basis for global economic cooperation”.
Fast-forward to today: the WTO and its rules are still crucial in helping nations to tap into new opportunities for trade growth, to harness trade to tackle global challenges and de-escalate trade tensions. But amid heightened geopolitical tensions, some key players’ commitment to economic interdependence has waned, chipping away at some of the fundamental principles of global trade governance and making it harder to achieve sustainable economic convergence, particularly for those still at the periphery of economic development — whether they are people, businesses or entire countries.
Thirty years after the inception of the WTO, it is time to reignite the spirit of economic cooperation that inspired its formation — this time to support so called re-globalization to make trade more inclusive and more equitable. Inaction, complacency, or waiting for a sudden change of heart among those unconvinced by the multilateral trade system will not do the trick. Restoring the practice of collaboration among WTO members requires bold measures: first, the role of trade policy as a catalyst for growth and development must be emphasized; second, national security concerns must be recalibrated; and third, a tangible commitment is needed to rebuild trust among economies and to update the WTO rulebook so that it aligns more closely with today’s realities.
09/11/2024 | Anabel González | World Trade Organization