The World Trade Organization (WTO) Secretariat has released a report detailing the recovery of developing economies in merchandise and commercial services trade following the pandemic-related decline. Despite this recovery, challenges persist, such as reliance on commodity exports and elevated trade costs.
Discussions continued on submissions by the WTO's African Group regarding "policy space" for industrial development within the frameworks of several WTO agreements. Members emphasized the importance of dialogue on policy space and its connection to trade and industrial policy.
The Committee also addressed electronic commerce, focusing on reinvigorating development aspects in line with the MC13 Decision. The significance of understanding developing members' priorities in digital trade was highlighted.
Following instructions from the MC13 Declaration, members discussed implementing measures from the 12th Ministerial Conference related to COVID-19 response and future pandemic preparedness.
Duty-free and quota-free market access for least-developed countries (LDCs) was another topic of discussion. Ambassador Ram Prasad Subedi of Nepal was elected as the new chair of the Committee.
Updates were provided on regional trade agreements (RTAs) and preferential trade arrangements (PTAs), with 44 notifications under the 1980 Montevideo Treaty noted by Latin American Integration Association member countries.