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Trade may help rebuild global economy, WTO says

Trade may help rebuild global economy, WTO says

Geneva, Jun 9 (Prensa Latina) The World Trade Organization (WTO) on Thursday considered that trade is a key ingredient to rebuild a stronger and more inclusive global economy and reactivate progress towards the Sustainable Development Goals (SDGs).
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During an intervention at the UN High-Level Political Forum on Sustainable Development, WTO Director-General Ngozi Okonjo-Iweala said that trade played a critical role in efforts to fight the Covid-19 pandemic and reactivate the progress of the SDGs.

Okonjo-Iweala recalled that trade played a key role in the historic achievements of development and poverty reduction during the 30 years before the onset of Covid-19.

She confirmed that reducing inequalities of all kinds is at the core of the SDGs, but ‘the pandemic has ramped up inequalities at homes, domestic economies and among nations.’

In this regard, she meant that strong international cooperation may help keep markets open, effective and predictable, including global supply chains for essential medical goods and services, and support post-crisis recovery strategies.

Reaching food security goals will be easier if global agricultural markets operate properly, she added.

This year’s Forum, held from July 6 to 15, is aimed at sustainable and resilient recovery from the Covid-19 pandemic and promoting the economic, social and environmental dimensions of sustainable development for the 2030 Agenda.

The event will give special emphasis to reviewing progress towards nine of the 17 SDGs, those related to the eradication of poverty, zero hunger, good health and well-being, decent work, economic growth and reduction of inequalities.

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