B20 Chair Daniel Funes de Rioja and Policy Sherpa Fernando Landa participated in the Trade Dialogues event at the WTO´s headquarters in Geneva.

The Trade Dialogues event was held on June 7th at the request of B20, the International Chamber of Commerce (ICC) and facilitated by the World Trade Organization (WTO).

The meeting focused on the challenges faced by global trade and the multilateral trading system and its role in creating economic stability and supporting growth, development and job creation.

“Trade dialogues between WTO and B20 contribute to foster important topics such as e-commerce, investment facilitation and a more inclusive SME participation in global value chains through concrete and practical recommendations” said Daniel Funes de Rioja.

The event gathered over 60 business representatives to discuss the challenges faced by global trade. Present at the meeting were Roberto Acevedo (Director General, WTO), Sunil Bharti Mittal, (Chairman, International Chamber of Commerce), Paul Polman (Chairman-elect, International Chamber of Commerce), John W.H. Denton (AO, Secretary General, International Chamber of Commerce), among others.

Fernando Landa introduced the topics the B20 Trade and Investment (TI) task force is undertaking. Landa stated that the TI policy paper document is well advanced and comprises many of the issues that were addressed at the meeting and commented on additional themes the B20 is currently discussing.

In this regard, he expressed the urgent need to discuss state-owned enterprises competitive distortions. In his view, the private sector has to develop innovative and actionable recommendations to deal with unfair competition effects that are eroding the rule-based multilateral trade system leveled playing field.

The B20 TI Task Force suggests G20 governments should recognize the principle of competitive neutrality to address state-owned enterprises distortionary behavior and to promote a plurilateral agreement on government-driven competitive distortions to ensure a fair and sustainable global development.

Furthermore, he emphasized the need to “Discuss with WTO a positive multilateral agenda consequential for avoiding trade frictions and disruptions which affects SMES the most. Regulatory coherence for digital trade, addressing data protection and data privacy regulations, along with e-commerce disciplines for digital goods and services are fundamental pieces for a 21st century multilateral trade system”.

To read the summary of the issues raised by B20 – click here

Source: B20 Argentina