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Speaking at IIT's recent ‘Rethinking Trade Architecture’ conference held at The Intercontinental Hotel on 10 September, Deputy Director-General Alan Wolff reflected on the current challenges facing the world trading system and what the system might look like in the year 2050. He foresaw that the system will continue to be tested but it will endure and improvements will be made to make it “effective with respect to all aspects of global needs, not least economic development”. To read his full speech click here
Jim Redden Visiting Fellow Institute for International Trade
Over the three day review, I was involved in a significant number of the workshops and plenaries, and held meetings with donors and recipient partners of Aid for Trade (AfT) gaining insights into a range of themes and issues that have emerged as high priorities for the next 2-3 years. Below I have attempted to summarise a number of those priorities.
Mike Humphrey - Senior Trade Advisor IIT - As most international-trade observers are aware, debate is currently raging about the World Trade Organization’s relevance and role, its need for organisational reform, and the lack of progress in the Doha Round. Special and differential treatment (S&DT) provisions are an important component of this wider debate, and particularly the question of which countries should benefit from them—an issue intimately tied to the matter of self-designation.
In a world of disruptors and “virtual” globalization, how should we prepare and respond to “future-proof” jobs and hard-won prosperity? Who will be the winners, and who the losers? What strategies may be implemented to harness the major economic forces shaping the global future, address a resultant rise in inequality, and populism, and focus on issues including the social value of work.
Dr Paula Zito, PhD, The University of Adelaide
This week in Brussels, Australia and the European Union (EU) embark on the fourth round of negotiations relating to the Australia-European Union Free Trade Agreement (AUSEUFTA). The preceding three rounds of negotiations have highlighted the importance of food Geographical Indication (GI) protection in trade relationships and negotiations and food GI protection has become a topical issue of the negotiations between Australia and the EU.
On 18-21 June 2019, Richard Pomfret gave an intensive seminar to PhD students in Tashkent on Economic Development, Trade and Value Chains, focusing on potential for future trade between Central Asia and the EU.
The Institute for International Trade hosted a visit and public lecture by Professor James Bacchus on 14 June 2019. Professor Bacchus currently serves as a Distinguished University Professor of Global Affairs and the Director of the Centre for Global Economic and Environmental Opportunity at the University of Central Florida. He was a founding member, and twice Chairman, of the Appellate Body of the WTO and served as a former member of the US House of Representatives.
Peter Draper, Executive Director, Institute for International Trade, University of Adelaide
How to make sense of recent manoeuvres amongst the major trading powers in relation to the WTO? The US is at the centre, so it is necessary to start there. Executive Director Professor Peter Draper reflects on these dynamics following recent travels to Tokyo, Geneva, and Florence.
On 31 May and 1 June 2019, both Prof Richard Pomfret Jean Monnet Chair in the Economics of European Integration and Prof Peter Draper Executive Director for Institute for International Trade participated in a Workshop and Round Table discussion on Asia-EU Trade at the European University Institute in Florence, Italy.
The ’trade wars’ are firmly back in the spotlight. Regions and countries will be variously impacted as tensions and tariffs escalate. In this briefing for the Turkish Policy Quarterly Executive Director Professor Peter Draper analyses how Sub-Saharan Africa might be affected, and what remedial actions African leaders could pursue. For more context on one option, the Continental FTA, see his recent joint article in World Economics (subscription required).
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