Members of the World Trade Organization (WTO) are increasing their discussions on making trade more inclusive by promoting the participation of women and micro, small, and medium-sized enterprises (MSMEs) in global trade.
The World Trade Report 2024, unveiled in Geneva this week, highlights that recognizing the unique challenges faced by MSMEs and women-led businesses in accessing international trade has led to the formation of the WTO Informal Working Group on MSMEs and the Trade and Gender initiative.
This group serves as a platform for exchanging information and experiences on how WTO members can enhance the involvement of MSMEs in global trade. Its objectives include improving women’s participation in international trade by sharing successful strategies and examining how women can take advantage of the Aid for Trade initiative, among other resources.
The report emphasizes that the topic of inclusive trade has gained considerable traction in various WTO committees and working groups. It mentions that numerous technical assistance and capacity-building projects are underway to foster a more inclusive trading environment.
The WTO’s flagship publication states that efforts to alleviate poverty, empower women economically, and enhance MSME participation are increasingly incorporated into the Aid for Trade framework, as well as into initiatives like the Enhanced Integrated Framework (EIF) and the Standards and Trade Development Facility (STDF), which are supported by WTO partnerships.
It was also noted that trade finance facilitation programs could significantly support international trade for both MSMEs and women entrepreneurs. Earlier this year, the WTO and the International Trade Centre (ITC) introduced the “Women Exporters in the Digital Economy” (WEIDE) Fund, designed to help women seize opportunities in international trade and the digital marketplace.