As international organizations such as the UN Security Council, International Monetary Fund (IMF) and World Bank are routinely working online, the World Trade Organization (WTO) has yet to fully empower its substantive bodies to meet and take decisions virtually. In light of this, USCIB, along with major industry associations across the world, issued a statement on June 15 urging WTO Members to restart a full, regular schedule of work online. The statement emphasized that the international business community needs the WTO fully engaged across its existing work program, as well as to address the COVID-19 pandemic and its economic aftermath.
The statement noted: “Trade law and policy has an important, indeed integral, role to play in recovery. The replacement of the departing Director-General Roberto Azevêdo makes a return to regular working using virtual tools even more important…We cannot return to where we were, we must move forward, and this will require a whole of society approach at the local, national, and international level.”
The industry groups also reiterated commitment to the WTO and the international rules-based trade architecture for which it is responsible.
For the full statement, click here.