A Statement for Trade Change

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May 13, 2014
by Alex Jackson
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A Statement for Trade Change

Salzburg Global Fellows make recommendations for changes to trade mechanisms ahead of the OECD Forum in Paris The participants of Session 533, New Dynamics in Global Trade Architecture, at Schloss Leopoldskron.

Participants of the Salzburg Global Seminar program New Dynamics in Global Trade Architecture collectively argued for a streamlined, efficient and 21st century trade model to be adopted at the conclusion of three days of seminar discussions in Salzburg.

As part of their Salzburg Global Statement on New Dynamics in Global Trade Architecture: The WTO, G20 and Regional Trade Agreements, Fellows examined the role of sustainable, inclusive and equitable growth patterns around the world, and how regional variations can enhance and support rather than threaten a global system.

They challenged the WTO to adapt and recreate its approach to the trade industry to meet the needs of the 21st century. In the post-Bali world, momentum needs to be maintained, agreements that affect trade reached sooner, and ideas of trade liberalization considered much more openly.

Specific areas for improvement included efforts to ensure successful implementation of the Trade Facilitation Agreement completed at Bali in December 2013 as quickly as possible; achievement of concrete advances in areas ripe for progress; and the conclusion of the Doha Development Agenda (DDA) by focusing on the core topics of agriculture, non-agriculture market access, and services, ideally by December 2015.

Regional and Preferential Trade Agreements (RTAs and PTAs) were also examined as alternative means of lowering trade barriers and restrictions to encourage growth beyond the WTO, and complement the multilateral trade system.

In considering the G20, participants further concluded that there needs to be a more proactive approach in consideration of underrepresented countries and groups, so as to fully facilitate an open market for both emerging and developed economies.

You can read the full Salzburg Global Statement below.