WTO Public Forum 2024 begins today

As the World Trade Organization (WTO) celebrates its 30th anniversary, the largest annual outreach event of the multilateral trade rule-making body will focus on the necessity of re-globalisation at a time when the wave of de-globalisation is on the rise.

Officially dubbed WTO Public Forum 2024, the four-day event starts today at WTO’s secretariat in Geneva, Switzerland, and is set to explore how re-globalisation can help make trade more inclusive, ensuring that its benefits reach more people.

Under the theme ‘Re-globalisation: Better trade for a better world’, this year’s forum will try to highlight that when the global economy at an inflection point, the world must seize the opportunity to re-globalise trade on more inclusive lines. There are three sub-themes: (a) Green policies to maximise the benefits of trade; (b) Services trade to build progress and enhance welfare; and (C) Digitalisation as a catalyst for inclusive trade.

The theme of the last year’s forum was ‘It is time for action’ which focused on the critical intersections between trade and climate change. The forum was also divided in three sub-themes: (a) the role of the services sector in sustainable trade; (b) inclusive policies for the advancement of green trade;  and (c) digitalisation as a tool for the greening of supply chains.

Participants in the forum will try to explore how the re-organisation of supply chains can be an opportunity to integrate new actors into the international trading system and build resilience.

They will also discuss incorporating inclusive polices into the WTO rulebook to foster greater peace and prosperity and empower marginalised communities.

They will also going to focus on a progressive and responsive multilateral trading system that can also promote positive environmental outcomes and ensure a just transition.

The World Trade Report 2024 will be presented this morning although the report was unveiled to media yesterday. This is the 22nd edition of the WTO’s one of the key annual flagship publications.

WTO chief economist Ralph Ossa is going to present the highlights of the report which focuses on the role of trade in supporting inclusiveness. Ngozi Okonjo-Iweala, Director-General of WTO, will be the designated speaker at the session.

The World Trade Report 2024 explores the complex inter-linkages between trade and inclusiveness across and within economies. It shows that openness to international trade can drive economic growth but many low- and middle-income economies struggle to integrate in world trade or diversify.

Although trade supports numerous jobs and provides access to affordable goods and services, some individuals can face challenges in adapting to new economic conditions following trade openness, it added.

Representatives from civil society, academia, business, government, international organisations and the media have already arrived in Geneva to join the forum. A packed schedule has already been set up by the organisers who are expecting a hectic week starting today.

The event provides a unique opportunity for interested stakeholders from around the world to discuss and debate the latest developments in global trade, according to a statement of the WTO. In the event, they will also propose ways of enhancing the multilateral trading system.

The Public Forum was previously known as the Public Symposium, which was first held in 2001 focusing on issues confronting the world trading system. In 2006, the annual event is renamed as public forum.

In celebration of its six decades of working with developing countries to transform their economies through trade, the International Trade Centre (ITC), based in Geneva is partnering with the WTO and the World Intellectual Property Organisation (WIPO) to host an immersive exhibition in the WTO Delegates Lounge in this year’s public forum. The exhibition will display the unique contributions of indigenous peoples to trade, through traditional cultural expressions, fashion and food.

The ITC will also host and support a number of sessions, including on ethical and inclusive trade, digital transformation in government procurement to empower women entrepreneurs, and trading for stability using conflict sensitivity methodology to leverage private-sector innovation.

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