Global trade is an important driver of economic growth. The changing nature of world trade, however, poses challenges to global trade governance. The rapid shift from the developed to developing economies in the past decade, the rise of global value chains and increased foreign direct investment (FDI) flows, among others, have made global trade governance more complex. The speed of these changes also means that new realities are not reflected in a timely manner. Against this backdrop, the aim of the Global Agenda Council on Trade & FDI is to inform the policy debate on critical issue areas on the global trade agenda.
Past work by the council includes examining plurilateral agreements as a complement to the single consensus rule in the World Trade Organization (WTO), an analysis of how regional trade agreements (RTAs) can dovetail with WTO disciplines, and a review of global value chains and how they affect or should affect trade policies in countries as well as in RTAs and in the WTO.
In 2013-2014, the council addressed the role of mega-regional trade agreements such as the Trans-Pacific Partnership and the US-EU Transatlantic Trade and Investment Partnership. A 2014 report by the council presents a holistic discussion on mega-regionals trade agreements, including their potential impact on global trade and investment flows, the reaction of rising powers to mega-regionals, the impact on BRICS and non-
BRICS economies, the role of the business community, and how to facilitate the relationship between mega-regionals and the multilateral trading system.
In the new term, the council aims to impact intergovernmental and governmental policy by advising stakeholders shaping the future of the global trading system. This includes contributing substantively to and advising on the direction of the Forum’s E15 global trade project in cooperation with ICTSD.
Council Manager: Katarina Hruba, Strategy and Operations Specialist, Centre for the Global Agenda, Global Agenda Platform, Katarina.Hruba@weforum.org
Forum Lead: Sean Doherty, Head of International Trade and Investment, E15 Trade, Sean.Doherty@weforum.org