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The coronavirus pandemic has broken supply chains, closed off borders and disrupted international trade routes.
Trade, which in recent years accounted for 54% to 60% of global economic activity, is now set to have a drop in global trade flows by 13% to 32%, according to the World Trade Organisation.
Trade is essential for saving lives and livelihoods in times of crisis, as seen with shortages of personal protective equipment, medical supplies and food... This crisis has exposed how vulnerable these connections really are.
What lessons have we learned and how can we reenergise world trade in order to stimulate the wider economic recovery? What role does trade finance play in that?
Marc Auboin is the Counsellor in the WTO’s Economic Research and Statistics Division and is responsible for the institution’s trade and finance agenda, including trade finance, and for the WTO’S relations with the IMF and the World Bank.
Shannon Manders is the Editorial Director at Global Trade Review, an award-winning international trade and trade finance publication, which she has been leading since 2012.
The opening remarks were delivered by EBRD Acting President Jürgen Rigterink.
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