WTO Deputy DG Backs Trade Diversification Over Decoupling Amid Global Supply Crises
World Trade Organization Deputy Director-General Anabel Gonzalez touted the need for "trade diversification, not decoupling" in the face of COVID-19 pandemic- and geopolitical-related supply chain disruptions, the WTO said. Speaking at the Global Solutions Summit on March 28, Gonzalez attempted…
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to jolt some confidence back into the multilateral trading system by discussing imports as a tool to absorb shocks to global supply chains. A further tool is the WTO Trade Facilitation Agreement that certain WTO members have made great strides in implementing, "but more efforts are needed to fully enjoy its benefits," she said.