The BCC is calling for agreements reached at the World Trade Organisation Ministerial Conference to be translated into real change for businesses.
Following the conclusion of the conference on Thursday night, William Bain, Head of Trade Policy at the BCC, said:
“The most important decision for many firms will be the eleventh-hour renewal, for 18 months at least, of the moratorium on customs duties on electronic transmission of products. This is a key boost for exporters.
“We also welcome the renewed commitment for the WTO secretariat to work with business so we can make these agreements work to strengthen trade and economic growth globally.
“Key issues like food security and vaccines saw sufficient progress to avert forthcoming crises, but on these, together with subsidies, digital trade, and WTO reform, further steps are badly needed.
“We hope for many opportunities to engage in Geneva on key business priorities for action and reform ahead of the next Ministerial Conference at the end of 2023.”
Over 160 countries attended the event which agreed tangible outcomes to aid the global economy and make progress in a number of areas.