Roberto Azevêdo, Director-General of the World Trade Organization (WTO), shows that the challenge of creating a more inclusive trading system continues to apply in developed and developing countries alike, and urges Commonwealth nations to unlock the trading potential of small and medium-sized enterprises to boost growth and job creation.
The global trading system has become more inclusive over recent decades. Developing countries have increased their share of global merchandise trade from 27 per cent in 1995 to over 43 per cent today. In commercial services trade, the share has risen from around 25 to 35 per cent. This is very positive. Accompanied by the right policies, trade will continue to be an important tool to promote growth and development.
The Commonwealth plays a very important role here, providing essential technical assistance that helps create more opportunities for developing countries to trade and improve their participation in trade flows. The World Trade Organization (WTO) shares this mission. As the only organisation dealing with global trade rules, we want to facilitate trade in support of development, growth and job creation. Over recent years, we have struck important reforms to global trade, helping to create more opportunities for developing countries. Looking ahead, we must ensure that the benefits of trade continue to reach more people, and that we continue to build a truly inclusive trading system…
Director-General of the World Trade Organization (WTO)