Inside Geneva: can the WTO shape a fairer world economy?

SWI swissinfo.ch

The World Trade Organization (WTO) Public Forum is underway in Geneva and its key theme is ‘re-globalisation’. Are we nervous about that word? Inside Geneva sat down with WTO officials to find out what it means.

“Trade has been a very powerful force for reducing between-country inequality. Since 1995, for example, since the foundation of the WTO, extreme poverty in the world has been reduced from 40% to 10%, because of growth in many countries that was also export-led,” says Ralph Ossa, WTO chief economist.

Many ordinary people think global trade makes them poorer. How can it benefit them?

“At the WTO, our members have gotten together and many of them have formed a working group on trade and gender to especially put the lens of women to trade policy and to see what more can be done so that they can take advantage of opportunities,” says Johanna Hill, WTO Deputy Director.

The WTO doesn’t tell countries how to run their industries, but it does hope they can learn from one another.

“Perhaps one member might say, ‘Well, you know, supporting women in my country has really been a tremendous success. Because now we see higher growth rates, lower poverty rates and so on. Why don’t you give it a try yourself?’” says Ossa.

+Global trade: Switzerland and over 120 countries want to facilitate investment

Can global trade help us face global challenges?

“Nobody questions the importance of regulating to protect the environment or to protect health – everybody agrees on that. It’s the how that might be the question,” says Hill.

Join host Imogen Foulkes for a trade special on Inside Geneva.

Find out more about the ‘Inside Geneva’ podcast and our other Swiss podcasts in English here.

Subscribe below to the ‘Inside Geneva’ newsletter to make sure you never miss a new episode.