WTO working group finalises MC12 draft declaration to help small businesses
19 October 2021
Major moves to address challenges facing micro, small and medium enterprises (MSMEs) wanting to get involved in global trade are to go before the World Trade Organisation’s (WTO) winter conference.
A declaration, drawn up by the Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs), which has been under discussion for months, will be considered by the WTO’s 12th Ministerial Conference (MC12) next month (November).
Coordinator of the Group, Uruguayan ambassador, José Luís Cancela (left in the picture) has called on members to build support for the initiative and invite WTO other members to endorse the ministerial declaration.
The declaration recognises the harm that the COVID-19 pandemic has done to small business and the need for a global coordinated response to help MSMEs recover from the pandemic.
It also takes stock of the group's work since it was established at the 11th WTO Ministerial Conference in Buenos Aires in December 2017, including the adoption of a package of six recommendations and declarations in December 2020.
The six declarations include:
* That WTO members should voluntarily provide information on policies relating to MSMEs during their WTO Trade Policy Reviews.
* That members should support the Global Trade Helpdesk, led by the International Trade Centre, the United Nations Conference on Trade and Development, and the WTO, to help MSMEs access market intelligence, including on tariffs and regulations.
* That members implement the WTO's Trade Facilitation Agreement and identify and promote good practices that can help MSMEs, and consider adopting digital customs procedures to ease these difficulties.
* Promoting MSME inclusion in regulatory development with members encouraged to analyse potential impacts for smaller businesses, and that they should consult with MSMEs before implementing new trade regulations.
* That WTO members should help MSMEs access reliable and comprehensive information on tariffs and other market access data from the. WTO Integrated Database.
* Access to finance and cross-border payments are major challenges for MSMEs getting involved in world trade and the group calls on members to share best practices with a view to identifying concrete measures.
Chamber International director, Tim Bailey, says: “The group promotes the ‘think small first’ approach to developing trade policy’ and aims to put the role digital has to play in international trade at the centre of its agenda. More private sector engagement with WTO around trade reform can only be a good thing.”
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