Wed, Feb 18,
Insights
WTO members have agreed on a draft decision to improve the integration of small economies into the global trading system.
The proposal, set for approval at the 14th Ministerial Conference (MC14) from March 26-29 in Yaoundé, Cameroon, focuses on digital trade, logistics, connectivity and MSME participation, aiming to strengthen the role of small, vulnerable economies in global commerce.
Members of the World Trade Organization (WTO) have agreed on a draft decision to enhance the integration of small economies into the global trading system, marking the first text submitted for approval at the 14th Ministerial Conference (MC14), to be held from March 26-29 in Yaoundé, Cameroon.
Adopted at the Committee on Trade and Development’s Dedicated Session on Small Economies, the proposal submitted by the WTO’s Group of Small, Vulnerable Economies (SVEs) calls for stronger integration of small economies into digital trade and the multilateral trading system.
The draft urges the WTO Secretariat to assess challenges in trade logistics, connectivity and border processes, promote trade facilitation and digital tools, and improve transparency and traceability. It also encourages sharing best practices to boost micro, small and medium enterprises (MSMEs) participation in digital trade.