The WTO has issued a call for proposals for this year’s Public Forum, whose theme is ‘Trade beyond COVID-19: Building Resilience’. As such, it is calling on participants interested in organizing sessions at the Forum to submit their proposals by June 7, 2021. The forum is scheduled to take place from September 28 to 30, 2021.
According to the WTO, this year’s Public Forum will look at the effects of COVID-19 on trade. It will then focus on how the multilateral trading system can help build resilience to the pandemic and future crises.
The Public Forum will have three sub-themes: Enhancing Resilience beyond COVID-19, Strengthening the Multilateral Trading System, and Collective Action towards Sustainable Trade.
Meanwhile, the WTO noted that it will make available the details about the format of this year’s Forum by July 2021. The WTO further noted that participants will organize all the sessions at the Public Forum.
Key focus of the Public Forum
Moreover, the Forum will bring together representatives of governments, the private sector, civil society, academia, consumers and students to consider how the trading system can help countries further develop this resilience. Participants will discuss the role of trade at a time of crisis and how the WTO can be strengthened to tackle the issues of the 21st century.
Also, the Forum will look into how a reform agenda can rebuild confidence in the trading system and deliver positive results for developing and least-developed countries. It will examine how to integrate women, youth and small businesses into the global economy. Also, it will look at how updated trade rules can help to raise living standards and reduce poverty.
In addition, it will look at how reform of the WTO will collaborate with other stakeholders to ensure that the future trading system promotes sustainable trade. It with then examine how sustainable trade can support the protection of the environment. The WTO seeks to engage governments, multilateral institutions, the private sector and civil society in this regard.
The WTO further indicated that the Forum will allow participants to debate how the membership can work together to strengthen the multilateral trading system. It will also help take collective action towards a sustainable future.
Role of trade in the fight against COVID-19
Trade plays a vital role in supporting economic recovery and efforts to prepare more effectively for future pandemics. As such, the WTO said “it is clear that trade has an important role in the response to COVID-19”.
Furthermore, the WTO highlighted that the COVID-19 pandemic is an unprecedented health crisis with far-reaching socio-economic effects. It has increased poverty and deepened inequality across the world – with women, youth and children the most affected.
According to the ILO, global employment losses stood at 114 million jobs relative to 2019. The highest number of losses affected women (5%) and young workers (8.7%). Job losses and subsequent loss in income have had far-reaching consequences. This include increased stress and mental illness, greater domestic violence and fewer children going to school.
Also, the World Bank estimates that the pandemic will push as many as 163 million people into poverty in 2021. This, according to the WTO, is threatening progress towards the Sustainable Development Goals.
COVID-19 has also had a severe impact on global trade. But the WTO said, global supply chains have thus far held up better than many expected. Global merchandise trade registered the sharpest fall on record in the second quarter of 2020. However, it rebounded in the second half of the year. The WTO expects the rebound in trade to continue in 2021. Even though global trade volumes are likely to remain well below the pre-crisis trend.
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