Services and Digital Trade ‘Key To Boosting Exports’
16th September 2024
The British Chambers of Commerce has endorsed the World Trade Organisation’s (WTO) focus on services and digital trade as key priorities.
The BCC was part of a record-size UK delegation to the WTO Public Forum in Geneva, last week. It met with the UK Ambassador to the WTO, the wider UK Mission team, and businesses and other stakeholders from across the globe.
Speaking after the event, BCC Head of Trade Policy, William Bain, said:
“Business voices need to be heard at events like the WTO Public Forum, but also in its work all year-round. The BCC agrees with the priorities of the WTO Secretariat for the next 12 months. Services are a UK, and global trade success story, and expanding markets for tradeable services will increase prosperity for UK businesses and the rest of the world.
“On digital trade, we want to build a wider take up of the agreement on Electronic Commerce - currently accepted by 91 countries. This will cut costs and expand opportunities for both developing and developed nations. We need to do more to get other states into the tent on this agreement.
“A major theme of the week was the effect of regulations and subsidies policies on openness to exports. Countries need to ensure that measures with good intentions on climate do not become overly protectionist in how they are applied.
“We look forward to engaging further with the important work on these issues going on at the WTO. A strong rules-based global trading system matters to business in the UK, and we must make sure our voices are heard.
“We share their aim of putting better trade and growth at the heart of the WTO staff and delegations’ agenda for the coming 12 months.”
The BCC participated in a roundtable on carbon border adjustment mechanisms across the world, and future regulatory and subsidies policy decisions key to the future of the global trading system.
It also heard from WTO Director-General Ngozi Okonjo-Iweala on the WTO’s priorities for the year ahead and the publication of the World Trade Report, focusing on the need to green up supply chains, bolster services trade and e-commerce, look pragmatically at subsidies reform, and expand gender equality and inclusivity in global trade.
