Foreword
While policymakers today debate the future of trade policy, the real story lies in the proven wins quietly shaping economies and improving lives worldwide. This series showcases ten compelling wins in international trade that demonstrate the success of crossborder commerce and open trade policies.
The foundations of modern trade rest on key enablers that make global commerce possible. Containerization revolutionized global trade by drastically reducing shipping costs, increasing efficiency, and enabling businesses worldwide—including those in small and developing economies—to access global markets. Trade is driving sustainable energy production and deployment through expanded market access, reduced costs, enhanced technological cooperation, and regional integration of clean energy solutions. Digital trade frameworks reduce barriers, streamline processes, cut costs, and boost global market access, empowering businesses of all sizes to expand internationally through digital tools and smart policies.
Trade serves as a powerful tool for addressing humanity’s greatest challenges. Safe, affordable food becomes more accessible through global trade networks that support international safety standards and foster cross-border cooperation in food security. Agricultural trade benefits from WTO SPS and TBT Committees, which address concerns early, enhance transparency, and remove technical barriers for smoother cross-border movement of goods. Strong intellectual property rights enabled rapid COVID-19 vaccine development and distribution by incentivizing research investment, encouraging collaboration, and supporting equitable access to essential medicines. Robust labor standards in modern trade agreements such as the US-Mexico-Canada Agreement ban forced labor, strengthen enforcement mechanisms, and enhance protection for vulnerable workers.
The transformative power of trade is perhaps most evident in real-world success stories of economic development. Trade liberalization and investment openness since the late 20th century have driven China’s remarkable economic transformation, lifting hundreds of millions out of poverty while enhancing global competitiveness. Service sector reforms in Morocco over the past 25 years have created employment opportunities for women, diversified exports, and boosted inclusive growth, offering a replicable model for other MENA countries. The EU-Vietnam trade agreement, effective since August 2020, eliminated 99 percent of tariffs and significantly boosted bilateral trade, investment flows, and regulatory cooperation.
These pieces show proven pathways on how trade drives economic growth and improves lives. The challenge now is to scale these wins. It is our hope this series inspires that vital work.
The Ten Trade Wins Editorial Team, TradeExperettes
Project Coordinator,
Emilie Kerstens & Gabriella Beaumont Smith
Brussels, London
August 22, 2024
