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12 trade tasks to prioritize in 2021

  • The new director-general at the WTO will have a raft of challenges on their desk – here are our suggestions for one task a month to focus on this year.
  • The time is ripe for a global conversation about best-practices for industrial policy and sustainable recovery from COVID-19.
  • Countries should align on trade actions to support climate ambition before they gather at year’s end to advance the Paris Agreement.

The next director-general of the World Trade Organization faces Herculean challenges. Hercules succeeded at his tasks in the end by trying new tactics, so perhaps fresh approaches should be tried for trade too. The World Economic Forum’s trade community has thoughts on 12 almost impossible tasks to tackle in 2021

January

Dealing with Brexit has shown how difficult and important it is to get trade paperwork and systems understood and working properly. The same holds true worldwide, not least in poorer nations. A committed global push on trade facilitation, building on the WTO agreement in force since 2017, would spark more economic growth than eliminating all the tariffs in the world. Trade facilitation is also critical for vaccine delivery...

This was excerpted from 21 January 2021 release by the World Economic Forum.

Topic(s)

International Trade and Border Management

Information source

International News Channel
Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.