The multilateral trading system in the post-pandemic new normal
The global pandemic and the associated lockdown measures have exposed particular vulnerabilities of many developing countries, especially those that depend on tourism and remittances for export earnings/income. Other countries also suffered from value chain disruptions and falling commodity prices. As a result, the pandemic afflicts many developing countries with unemployment leading to high poverty incidence. The session will examine particular challenges posed to key traded sectors in developing countries – such as services, tourism, remittances and trade in value chains – and how the trading system could be made more supportive, perhaps via with special and differential treatment (SDT), of developing countries’ efforts to better cope with some of the transformative shifts triggered by the crisis. The Session will also facilitate the exchange of best practices and coping mechanisms.
Key questions
- What were the major challenges faced by developing countries in putting in place effective response measures to the COVID-19 crisis?
- How can the COVID-19 challenges and lessons for developing countries be best addressed and factored into ongoing and future negotiations and WTO reform, including on SDT?
