WTO hosts public forum to discuss trade, re-globalization

GENEVA, Philippines — The World Trade Organization (WTO) will kick off its annual public forum today to tackle the future of global trade, particularly its push toward re-globalization that seeks to make trade more inclusive.

This year’s public forum, which brings together various trade stakeholders from private sector representatives, government officials to academe and civil service organizations, coincides with the 30th foundation of the WTO.

“As the WTO celebrates its 30th anniversary, the 2024 Public Forum will look to the future, exploring how re-globalization can help make trade more inclusive and ensuring that its benefits reach more people,” the multilateral body said.

The public forum, which would be held here from Sept. 10 to 13, would explore the concept of re-globalization and how it could help make trade become more inclusive to ensure that its benefits reach more people around the globe.

The WTO noted that the international trading system has helped in lifting 1.5 billion people around the world out of ”absolute” poverty but the gains from trade “have not always been shared equally.”

The public forum would feature about 139 sessions across wide ranging issues and topics such as future of the WTO, artificial intelligence, climate crisis, services, digitalization and agriculture. The forum would also have sessions focused on specific industries such as semiconductors, minerals, fisheries and textiles, among others.

Re-globalization involves providing “equal” opportunities to every man and woman in the world, creating an environment wherein “no one is left behind,” said Nicole Mensa, special assistant and general adviser to WTO Director-General Ngozi Okonjo-Iweala.

“Achieving gender equality and reducing disparities are key to a brighter more inclusive future for us all and trade must play its part,” she said.

“When we break down barriers and create inclusive opportunities we unleash the full potential of women and of our global economy. This is re-globalization and re-globalization means better trade for a better world,” she added.

Mensa explained that re-globalization calls on various stakeholders from governments to academe to “unite” and make trade “more inclusive” and “more equitable.”

The WTO would also launch today the 2024 iteration of its flagship World Trade Report that is aimed at “deepening” understanding about the recent trends in the global trade, including policy issues and the multilateral trading system.

The World Trade Report is an annual publication that aims to deepen understanding about trends in trade, trade policy issues and the multilateral trading system.

This year’s World Trade Report would explore the complex interlinkages between trade and inclusiveness within and across economies, according to the WTO. The report would also discuss necessary domestic. Policies to complement trade policies to make the benefits of trade “more inclusive.”