The Indo-Pacific Economic Framework for Prosperity (IPEF) signifies an important attempt by the United States of America (US) to establish a strategic presence in the Indo-Pacific region, following its setback in the Trans-Pacific Partnership (TPP). The Biden administration actively promotes IPEF as an economic initiative aimed at countering Chinese hegemony in the region, exemplifying the push for friendshoring. Nevertheless, the distinctive architecture of IPEF demands attention, the non-binding commitments not only makes it an appealing initiative for heterogenous interests in the Indo-Pacific region but also heralds a new era of rulemaking in international trade. The article attempts to undertake a nuanced exploration of the growth of friendshoring in the wake of global supply chain disruptions with the examination of IPEF in the Indo-Pacific Region. It further examines the political and economic strategies employed to rebuild trust with Indo- Pacific nations and finally integrate India and US into the network of economic partnerships in the region. Such an exploration facilitates a deeper appreciation of how the non-binding commitments within IPEF usher in a new era of rulemaking in international trade through standard setting, reminiscent of the ‘Brussels Effect’ and ‘California Effect’. friendshoring, IPEF, US, India, supply chains, Indo-Pacific, ESG, standards
{"title":"Article: Unraveling Friendshoring in the Indo-Pacific Economic Framework for Prosperity and Forging a Novel Form of Standard Setting","authors":"Ridhish Rajvanshi","doi":"10.54648/gtcj2024031","DOIUrl":"https://doi.org/10.54648/gtcj2024031","url":null,"abstract":"The Indo-Pacific Economic Framework for Prosperity (IPEF) signifies an important attempt by the United States of America (US) to establish a strategic presence in the Indo-Pacific region, following its setback in the Trans-Pacific Partnership (TPP). The Biden administration actively promotes IPEF as an economic initiative aimed at countering Chinese hegemony in the region, exemplifying the push for friendshoring. Nevertheless, the distinctive architecture of IPEF demands attention, the non-binding commitments not only makes it an appealing initiative for heterogenous interests in the Indo-Pacific region but also heralds a new era of rulemaking in international trade. The article attempts to undertake a nuanced exploration of the growth of friendshoring in the wake of global supply chain disruptions with the examination of IPEF in the Indo-Pacific Region. It further examines the political and economic strategies employed to rebuild trust with Indo- Pacific nations and finally integrate India and US into the network of economic partnerships in the region. Such an exploration facilitates a deeper appreciation of how the non-binding commitments within IPEF usher in a new era of rulemaking in international trade through standard setting, reminiscent of the ‘Brussels Effect’ and ‘California Effect’.\u0000friendshoring, IPEF, US, India, supply chains, Indo-Pacific, ESG, standards","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140272741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The label ‘friendshoring’ has recently emerged to describe an approach to supply chains that focuses on ensuring they can be relied upon, trusted and secured as opposed to just maximising their economic efficiency. Aspects of friendshoring have a longer history in the context of cross-border data flows, which have been (and are increasingly) subject to restrictions aimed at protecting privacy, cyber-security and national security interests. Data flows are critical to the functioning of modern supply chains and are themselves important sources of value. While the goals of data flow restrictions are often laudable, data friendshoring is not without risks and costs. It can have an uneasy relationship with existing trade rules, and spillover effects for other policy interests (including in relation to internet governance and the strength of the rules-based trading system). This article sets out the connections between friendshoring and data flow restrictions. It then examines the role that trade rules play in relation to data friendshoring, including the uncertainty of the application of certain current trade rules to data friendshoring and the benefits that digital trade rules can contribute in relation to data friendshoring. These benefits includes ameliorating the risks associated with data friendshoring, providing greater certainty for those involved in these arrangements, and enabling on-going discussions between potentially fragmented regimes to help rebuild trust over the longer term. digital trade, friendshoring, data flows
{"title":"Article: The Data Is In The Details: Friendshoring, Data Flows and the Role of Digital Trade Rules","authors":"","doi":"10.54648/gtcj2024028","DOIUrl":"https://doi.org/10.54648/gtcj2024028","url":null,"abstract":"The label ‘friendshoring’ has recently emerged to describe an approach to supply chains that focuses on ensuring they can be relied upon, trusted and secured as opposed to just maximising their economic efficiency. Aspects of friendshoring have a longer history in the context of cross-border data flows, which have been (and are increasingly) subject to restrictions aimed at protecting privacy, cyber-security and national security interests. Data flows are critical to the functioning of modern supply chains and are themselves important sources of value. While the goals of data flow restrictions are often laudable, data friendshoring is not without risks and costs. It can have an uneasy relationship with existing trade rules, and spillover effects for other policy interests (including in relation to internet governance and the strength of the rules-based trading system). This article sets out the connections between friendshoring and data flow restrictions. It then examines the role that trade rules play in relation to data friendshoring, including the uncertainty of the application of certain current trade rules to data friendshoring and the benefits that digital trade rules can contribute in relation to data friendshoring. These benefits includes ameliorating the risks associated with data friendshoring, providing greater certainty for those involved in these arrangements, and enabling on-going discussions between potentially fragmented regimes to help rebuild trust over the longer term.\u0000digital trade, friendshoring, data flows","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140270055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Recent disruptions in international relations and the international trading order have given rise to new innovations in the ways countries trade. In this regard, friend-shoring is emerging as a means to recast entrenched global supply chains in a manner that favours friends and allies. Through this paper, we seek to explore how Indo-Pacific countries particularly India, the United Arab Emirates (UAE), Japan, Australia and the United States (US) can use friendshoring to integrate itself into global supply chains. Particularly, we focus on how these countries can leverage ‘minilaterals’ such as the Quadrilateral Security Dialogue (QUAD) and I2U2 (India, Israel, UAE. US) to collaborate on traditional as well as emerging areas of trade and gain from the strengths of these trading partners. In doing so, we look at free trade agreements (FTA) and regional agreements that exist between these countries, to examine if the same may be channelized to further friendshoring. We also study major collaborations that are taking shape amongst these countries. friend-shoring, QUAD, I2U2, IMEEC, minilaterals
{"title":"Article: Friends and Free Trade: How Indo-Pacific Countries Can Leverage the QUAD and I2U2 in Friendshoring","authors":"","doi":"10.54648/gtcj2024025","DOIUrl":"https://doi.org/10.54648/gtcj2024025","url":null,"abstract":"Recent disruptions in international relations and the international trading order have given rise to new innovations in the ways countries trade. In this regard, friend-shoring is emerging as a means to recast entrenched global supply chains in a manner that favours friends and allies. Through this paper, we seek to explore how Indo-Pacific countries particularly India, the United Arab Emirates (UAE), Japan, Australia and the United States (US) can use friendshoring to integrate itself into global supply chains. Particularly, we focus on how these countries can leverage ‘minilaterals’ such as the Quadrilateral Security Dialogue (QUAD) and I2U2 (India, Israel, UAE. US) to collaborate on traditional as well as emerging areas of trade and gain from the strengths of these trading partners. In doing so, we look at free trade agreements (FTA) and regional agreements that exist between these countries, to examine if the same may be channelized to further friendshoring. We also study major collaborations that are taking shape amongst these countries.\u0000friend-shoring, QUAD, I2U2, IMEEC, minilaterals","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140274445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Editorial: Friendshoring, Nearshoring, Greenshoring and Resshoring: Changing Faces of Global Supply Chains and its Impact on International Economic Law - Introduction to the Special Issue","authors":"","doi":"10.54648/gtcj2024035","DOIUrl":"https://doi.org/10.54648/gtcj2024035","url":null,"abstract":"","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140283038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The COVID-19 pandemic disrupted supply chains around the world and uncovered the dangers of having a concentrated supply chain. With the geopolitical tensions between the US and China and the invasion of Ukraine, the need for friendshoring supply chains in critical green sectors like electric vehicles (EVs) has become a top concern for the US and other countries in the West. The US is adopting measures to support the production and adoption of EVs with the objective of not just ensuring a low carbon footprint, but purportedly to reduce dependency on ‘countries of concern’, revive its manufacturing sector, and make the supply chain resilient. This has eventually led to a race among the US and other countries to augment the production of EVs. The Inflation Reduction Act (IRA) is the culmination of the efforts to support green transportation of the future while supporting domestic production, deepening economic ties with friends and reducing overreliance on potentially hostile countries. Against this background, the authors attempt to analyse the IRA from the perspective of ‘friendshoring’. Friendshoring, supply chain, Inflation Reduction Act, nearshoring, US-China trade relations
{"title":"Article: A Friend-Shoring Perspective of the Inflation Reduction Act","authors":"","doi":"10.54648/gtcj2024030","DOIUrl":"https://doi.org/10.54648/gtcj2024030","url":null,"abstract":"The COVID-19 pandemic disrupted supply chains around the world and uncovered the dangers of having a concentrated supply chain. With the geopolitical tensions between the US and China and the invasion of Ukraine, the need for friendshoring supply chains in critical green sectors like electric vehicles (EVs) has become a top concern for the US and other countries in the West. The US is adopting measures to support the production and adoption of EVs with the objective of not just ensuring a low carbon footprint, but purportedly to reduce dependency on ‘countries of concern’, revive its manufacturing sector, and make the supply chain resilient. This has eventually led to a race among the US and other countries to augment the production of EVs. The Inflation Reduction Act (IRA) is the culmination of the efforts to support green transportation of the future while supporting domestic production, deepening economic ties with friends and reducing overreliance on potentially hostile countries. Against this background, the authors attempt to analyse the IRA from the perspective of ‘friendshoring’.\u0000Friendshoring, supply chain, Inflation Reduction Act, nearshoring, US-China trade relations","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140283577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Indo-Pacific Economic Framework for Prosperity (IPEF) is yet to be explored in terms of a new turn in the Indo-Pacific Strategy, and also in terms of benefit to various member countries. The United States (US) launched the IPEF with thirteen initial partners. The IPEF Supply Chain agreement is novel, and through various bodies such as the Supply Chain Council, Labour Rights Advisory Board and Crisis Response Network, seeks to (1) build a collective understanding of supply chain risks; (2) improve crisis coordination and response to supply chain disruption; (3) ensure that workers and businesses, especially Micro Small and Medium Enterprises in the economies of IPEF members, benefit from the resilient, robust and efficient supply chain; (4) ensure a sufficient number of skilled workers in critical sectors and key goods; and (5) create/provide opportunities for technical assistance and capacity building. The IPEF Supply Chain agreement also builds on a partnership model among selected countries based on a shared understanding of the supply chain, associated risk, priority etc. This short article attempts to analyse the IPEF Supply Chain Agreement, labour rights in the supply chain, and a possible shift from the Asia-Pacific to the Indo-Pacific with the regional supply chain and trusted trade partners (friendshoring). The article, among other matters, explores the potential benefits for India. IPEF, Supply Chain, Asia-Pacific, Indo-Pacific, Labour Rights, trusted trade partners, friendshoring
{"title":"Article: Building a Prosperous Future: Unveiling the Benefits of IPEF Supply Chain Agreement (Pillar II)","authors":"","doi":"10.54648/gtcj2024032","DOIUrl":"https://doi.org/10.54648/gtcj2024032","url":null,"abstract":"The Indo-Pacific Economic Framework for Prosperity (IPEF) is yet to be explored in terms of a new turn in the Indo-Pacific Strategy, and also in terms of benefit to various member countries. The United States (US) launched the IPEF with thirteen initial partners. The IPEF Supply Chain agreement is novel, and through various bodies such as the Supply Chain Council, Labour Rights Advisory Board and Crisis Response Network, seeks to (1) build a collective understanding of supply chain risks; (2) improve crisis coordination and response to supply chain disruption; (3) ensure that workers and businesses, especially Micro Small and Medium Enterprises in the economies of IPEF members, benefit from the resilient, robust and efficient supply chain; (4) ensure a sufficient number of skilled workers in critical sectors and key goods; and (5) create/provide opportunities for technical assistance and capacity building. The IPEF Supply Chain agreement also builds on a partnership model among selected countries based on a shared understanding of the supply chain, associated risk, priority etc. This short article attempts to analyse the IPEF Supply Chain Agreement, labour rights in the supply chain, and a possible shift from the Asia-Pacific to the Indo-Pacific with the regional supply chain and trusted trade partners (friendshoring). The article, among other matters, explores the potential benefits for India.\u0000IPEF, Supply Chain, Asia-Pacific, Indo-Pacific, Labour Rights, trusted trade partners, friendshoring","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140274556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The shifting geopolitical landscape and the increased demand for critical minerals in the efforts towards green transition have underscored the need to build predictable and resilient mineral supply chains. With the fundamental idea of strengthening economic resilience and ensuring security of supply, countries are increasingly resorting to reshoring, friend-shoring and nearshoring policies in critical minerals trade. Against this backdrop, this article summarizes WTO rules governing international trade in critical minerals and examines emerging international legal trends shaping trade and supply chains in critical minerals. It offers recommendations for devising India’s strategy for critical minerals taking into account the security of supply, international trade rules and other commercial considerations. critical minerals, supply chains, international trade, WTO, India
{"title":"Article: Critical Allies and Core Geopolitics in Minerals Trade: Devising a Strategy for India","authors":"A. Bhattacharya","doi":"10.54648/gtcj2024027","DOIUrl":"https://doi.org/10.54648/gtcj2024027","url":null,"abstract":"The shifting geopolitical landscape and the increased demand for critical minerals in the efforts towards green transition have underscored the need to build predictable and resilient mineral supply chains. With the fundamental idea of strengthening economic resilience and ensuring security of supply, countries are increasingly resorting to reshoring, friend-shoring and nearshoring policies in critical minerals trade. Against this backdrop, this article summarizes WTO rules governing international trade in critical minerals and examines emerging international legal trends shaping trade and supply chains in critical minerals. It offers recommendations for devising India’s strategy for critical minerals taking into account the security of supply, international trade rules and other commercial considerations.\u0000critical minerals, supply chains, international trade, WTO, India","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140281545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Recent developments in clean energy supply chain amidst the geopolitical crisis have resulted in the friend shoring and nearshoring measures in the clean energy supply chain. Clean energy supply chain is susceptible to Environment, Social and Governance (ESG) risks, particularly resistance from the local communities against the critical minerals mining/exploration projects, due to policy gaps in the legislative framework regarding the community engagement standard and procedures. In context of friend shoring and nearshoring measures, this gap may get widened in the States with critical mineral resources. The article will track the development of the ESG standards pertaining to community engagement at the multilateral forums and the multilateral stakeholder initiative forums. Moreover, the article will analyse the gaps in ESG performance of the mining sector, particularly parameters of the community engagement. Further, the article will identify issues with the current initiatives under trade and economic cooperation agreements and bilateral investment treaties toward ensuring the community consent standards by extractive industry, specifically the mining of critical minerals for clean energy development. The article will conclude that fragmentation of the community consent standard has resulted in widening of ESG risks for investors and host states in the critical mineral sector. Accordingly, the article recommends that host states frame legislative framework for this sector by balancing interest of local communities with sound business environment for the investors. Friendshoring, Nearshoring, Electric Vehicle, Environment, Social and Governance, Trade Agreements, Free Prior and Informed Consent, Community Consent Standard, Investor State Dispute Settlement.
{"title":"Article: Fragmentation of Community Consent Standard in the Era of Friendshoring and Nearshoring","authors":"P. Narang","doi":"10.54648/gtcj2024033","DOIUrl":"https://doi.org/10.54648/gtcj2024033","url":null,"abstract":"Recent developments in clean energy supply chain amidst the geopolitical crisis have resulted in the friend shoring and nearshoring measures in the clean energy supply chain. Clean energy supply chain is susceptible to Environment, Social and Governance (ESG) risks, particularly resistance from the local communities against the critical minerals mining/exploration projects, due to policy gaps in the legislative framework regarding the community engagement standard and procedures. In context of friend shoring and nearshoring measures, this gap may get widened in the States with critical mineral resources. The article will track the development of the ESG standards pertaining to community engagement at the multilateral forums and the multilateral stakeholder initiative forums. Moreover, the article will analyse the gaps in ESG performance of the mining sector, particularly parameters of the community engagement. Further, the article will identify issues with the current initiatives under trade and economic cooperation agreements and bilateral investment treaties toward ensuring the community consent standards by extractive industry, specifically the mining of critical minerals for clean energy development. The article will conclude that fragmentation of the community consent standard has resulted in widening of ESG risks for investors and host states in the critical mineral sector. Accordingly, the article recommends that host states frame legislative framework for this sector by balancing interest of local communities with sound business environment for the investors.\u0000Friendshoring, Nearshoring, Electric Vehicle, Environment, Social and Governance, Trade Agreements, Free Prior and Informed Consent, Community Consent Standard, Investor State Dispute Settlement.","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140275682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The WTO safeguard measure takes the form of a suspension of an obligation under the GATT or the withdrawal or modifications of a GATT concession. When an importing Member imposes a safeguard measure, it shall endeavour to maintain a substantially equivalent level of concessions and may agree to compensate the exporting Member(s) affected by the safeguard measure. The SG Agreement also stipulates that if no agreement is reached within thirty days, the affected Member could suspend, under certain conditions, the application of substantially equivalent concessions or other obligations to the trade of the imposing Member. It has been rare that the exporting Member and the Member applying the safeguard agreed to a compensation. At the same time, until 2018, notifications of suspension of concessions to rebalance the level of concessions have also been rare. However, suspension of concessions sharply increased since 2018. This article offers some observations relating to this recent trend. WTO, Safeguards, GATT, compensation, suspension of concessions, rebalancing
{"title":"Rebalancing the Trading Scale?: Recent Trends in the Implementation of Article 8 of the Safeguards Agreement","authors":"Hiromi Yano","doi":"10.54648/gtcj2024003","DOIUrl":"https://doi.org/10.54648/gtcj2024003","url":null,"abstract":"The WTO safeguard measure takes the form of a suspension of an obligation under the GATT or the withdrawal or modifications of a GATT concession. When an importing Member imposes a safeguard measure, it shall endeavour to maintain a substantially equivalent level of concessions and may agree to compensate the exporting Member(s) affected by the safeguard measure. The SG Agreement also stipulates that if no agreement is reached within thirty days, the affected Member could suspend, under certain conditions, the application of substantially equivalent concessions or other obligations to the trade of the imposing Member. It has been rare that the exporting Member and the Member applying the safeguard agreed to a compensation. At the same time, until 2018, notifications of suspension of concessions to rebalance the level of concessions have also been rare. However, suspension of concessions sharply increased since 2018. This article offers some observations relating to this recent trend.\u0000WTO, Safeguards, GATT, compensation, suspension of concessions, rebalancing","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140469489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Promoting financial inclusion for women is a goal supported by many multilateral organizations and policymakers globally, and the WTO is no exception. This article argues that financial inclusion is crucial to empower women economically and socially. It emphasizes historical barriers that women have faced in accessing financial services. In addition, it underlines the importance of incorporating women's financial inclusion into the World Trade Organization (WTO) and advocates for leveraging existing structures within the WTO, such as the Council for Trade in Services and the Committee on Trade in Financial Services, to advance this issue. The objective is to facilitate the exchange of experiences and best practices among Members in a structured manner, addressing the regulatory framework of financial institutions and learning from each other, rather than creating new rights or obligations or launching joint initiatives. Financial Inclusion, World Trade Organization, Women’s Empowerment, Gender, Trade in Services, Financial Services, WTO Ministerial Conference, Committee on Trade in Financial Services, Remittances, and Gender Equality
{"title":"WTO, Women’s Empowerment and Financial Inclusion","authors":"Pedro Bravo","doi":"10.54648/gtcj2024006","DOIUrl":"https://doi.org/10.54648/gtcj2024006","url":null,"abstract":"Promoting financial inclusion for women is a goal supported by many multilateral organizations and policymakers globally, and the WTO is no exception. This article argues that financial inclusion is crucial to empower women economically and socially. It emphasizes historical barriers that women have faced in accessing financial services. In addition, it underlines the importance of incorporating women's financial inclusion into the World Trade Organization (WTO) and advocates for leveraging existing structures within the WTO, such as the Council for Trade in Services and the Committee on Trade in Financial Services, to advance this issue. The objective is to facilitate the exchange of experiences and best practices among Members in a structured manner, addressing the regulatory framework of financial institutions and learning from each other, rather than creating new rights or obligations or launching joint initiatives.\u0000Financial Inclusion, World Trade Organization, Women’s Empowerment, Gender, Trade in Services, Financial Services, WTO Ministerial Conference, Committee on Trade in Financial Services, Remittances, and Gender Equality","PeriodicalId":12728,"journal":{"name":"Global Trade and Customs Journal","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140465730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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