World Trade Organization (WTO) members are increasingly discussing how to make trade more inclusive by fostering the greater participation of women and MSMEs in trade.
The World Trade Report 2024 launched in Geneva this week notes that the recognition of specific constraints of MSMEs and women-owned businesses in integrating global trade and leveraging trade for economic empowerment has resulted in the establishment of the WTO Informal Working Group on MSMEs and on Trade and Gender.
The Informal Working Group on MSMEs provides a forum to exchange information and experiences on ways in which WTO members can better support the participation of MSMEs in global trade.
The working group aims to enhance women’s participation in international trade by sharing best practices and exploring how women can benefit from the Aid for Trade initiative, among others.
The report stated discussions on inclusive trade had also gained significant importance in other WTO committees and working groups.
It said a number of trade-related technical and capacity-building initiatives in the WTO were contributing to making trade more inclusive.
“Poverty reduction, women’s economic empowerment and MSME participation are increasingly being integrated into Aid for Trade, as well as into projects of the Enhanced Integrated Framework (EIF) and Standards and Trade Development Facility (STDF), multilateral partnerships supported by the WTO,” the WTO’s flagship publication stated.
“Trade finance facilitation programs can also significantly benefit and enhance international trade for MSMEs and women traders.”
Early this year, the WTO and the International Trade Centre (ITC) launched a “Women Exporters in the Digital Economy” (WEIDE) Fund to assist women in accessing opportunities in international trade and the digital economy.
Making trade more inclusive for women, MSMEs
