This week, Business at OECD (BIAC) released its flagship paper “Trading Better, Living Better” outlining trade priorities aimed at promoting robust and resilient trade, innovation, open markets, a level the playing field and inclusivity. The paper is developed to inform the future work program of the OECD Trade and Agriculture Directorate.
The paper was launched on November 27 at a virtual event including OECD officials, government policymakers and other trade stakeholders. USCIB Vice President for International Investment and Trade Policy and BIAC Trade Committee Vice Chair Alice Slayton Clark presented key priorities from the digital section of the paper. These included permanent renewal of the World Trade Organization (WTO) moratorium on customs duties on electronic transmissions, high standard outcomes from the JSI on e-commerce negotiations and OECD advancement of the benefits of cross-border data flows and negative effects of data localization measures.
Importantly, the document also urges the OECD to support policy efforts towards strengthening intellectual property (IP) protections, which serve as a fuel for innovation. It urges research on the benefits of IP safeguards and negative trade effects of weak IP rights enforcement.
“The paper underscores several key recommendations for strengthening trade and business,” said Clark. “It calls on the international community to foster rules-based and resilient trade, strengthen the foundations of open markets, advance the digital economy, level the playing field for government support and secure public support for open markets.”
Read the full paper here.