TradeSphere Global

TradeSphere Global Recommendations

  The first set of debates, which concluded in March 2021, led to the following 10 recommendations for creating a trusted model of open trade and free enterprise that works for everyone, every day, and everywhere. The recommendations aim to provide guidance to stakeholders as they consider the future of the rules-based multilateral trading system.

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• 29/05/21

  Distorting Trade Practices

  • Trade practices that lead to market distortions (e.g. overcapacity) can be better addressed within a multilateral framework than on a bilateral basis.
  • Timely notifications on market-distorting trade practices are important to ensure transparency among Members.

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• 29/05/21

  E-Commerce

  • Moratorium on electronic transmissions is important for business and consumers and should be maintained.
  • Basic standards for digital trade in areas such as consumer protection and e-contracts should be implemented to facilitate and develop e-commerce.
  • Good regulatory practices, including cross-border data flows, should be part of an e-commerce agenda.
  • Close coordination between policy makers and businesses is crucial to develop global rules on e-commerce that can support stakeholders.
  • Digital technological developments can particularly benefit SMEs by allowing them to access international markets beyond their domestic markets. Policy makers should seek to maximize this positive effect.
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• 29/05/21

  Plurilateral Approach

  •  Pursuing more flexible and pragmatic approaches to negotiations, instead of large multilateral single undertakings, is key in making progress on new rules at the WTO.
  • Plurilateral approaches on specific issues could therefore be a useful tool.
  • Plurilateral discussions such as the Joint Statement Initiatives processes, open to all, is one way of developing new rules.