The world is still feeling the effects of COVID-19, geopolitical instability, and increasing inflation rates, which have caused the World Trade Organization’s (WTO) trade growth forecast to drop to a mere 0.8% this year. Despite these difficulties, it is essential to continue to progress international commerce and optimize the value chain.
The United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) is aiding this global objective by providing digital solutions. This organization is made up of 1,600 trade facilitation experts from all over the world. In October 2023, 300 of these experts from 61 countries met in Bangkok, Thailand, both in person and online for the 41st UN/CEFACT Forum. This event focused on digital and green transformations, as well as climate action for sustainable development.
At the Forum, the fifth UN Global Survey on Digital and Sustainable Trade Facilitation was shared, as well as forward-looking perspectives and tools from partner organizations. The UNECE-ESCAP joint conference, which was attended by senior officials from the two Regional Commissions and the United Nations Conference for Trade and Development (UNCTAD), discussed the way forward on digital and sustainable trade facilitation. The experts discussed potential approaches to identify sustainable and digital trade facilitation measures for climate change mitigation and adaptation.
“International economic cooperation, including international trade, is more important than ever in today’s special economic and geopolitical context,” said Elisabeth Türk, Director of Economic Cooperation and Trade Division of UNECE. “Digitalization and green transformation can be used to enhance trade and connectivity and combat climate change.”
The UN Global Survey on Digital and Sustainable Trade Facilitation, the Trade Facilitation Implementation Guide (TFIG), policy recommendations and standards from UN/CEFACT, regional trade agreements, and the Framework Agreement on Cross-border Paperless Trade in Asia and the Pacific were all discussed at the Forum. These tools and instruments can help UN Member States with technical assistance and capacity building, as well as creating evidence-based policy making for developing countries.
Rupa Chanda, Director of the Trade, Investment and Innovation Division of ESCAP, said “Digital transformation is accelerating, and trade digitalization needs to be bolstered to allow more people to engage in international trade and be part of global and regional value chains, as well as to reduce carbon emissions from the trade process.” She further noted that the findings of the UN Global Survey on Digital and Sustainable Trade Facilitation can help countries and development partners form strategies and policies, exchange innovative practices, and identify capacity building and technical assistance needs.
The Forum also addressed topics such as Transport and Logistics, Finance and Payment, Travel and Tourism, Specification, and Single Window initiatives, which all strive to modernize trade processes, improve efficiency, and reduce trade barriers. The 29th Plenary and the 3rd Meeting of Team of Specialists on Environmental, Social and Governance Traceability of Sustainable Value Chains will be held in Geneva in November 2023.