The World Trade Organization (WTO) Secretariat presented key findings from a report released in November 2024, titled "Trading with intelligence: How AI shapes and is shaped by international trade". This report explores the potential of artificial intelligence in shaping the future of international trade by lowering trade costs, boosting productivity, and enhancing economies' comparative advantages.
WTO members acknowledged the significant influence of artificial intelligence on global trade and the importance of considering its effects on trade policies and development. They emphasized that the WTO should contribute toward regulatory coherence and capacity-building in AI, particularly for developing nations.
Additionally, members addressed the role of AI in improving trade facilitation measures. These improvements could lead to cost reductions and increased efficiency in cross-border trade by streamlining customs and incorporating digital technologies.
Furthermore, participants identified the WTO as a crucial platform for discussion, sharing best practices, and collaborating with international organizations and experts on the interplay between international trade and artificial intelligence.
The next meeting is planned for May 15, focusing on the moratorium on customs duties on electronic transmissions.