Barbados marked its inaugural participation in the World Trade Organization’s (WTO) Mini-Ministerial, held in conjunction with the World Economic Forum in Davos, Switzerland.
Kerrie Symmonds, Minister of Foreign Affairs and Foreign Trade, attended the WTO Mini-Ministerial, which aimed to lay the groundwork for the upcoming year, leading to the 2026 Ministerial Conference set to occur in Cameroon.
The meeting commenced with a roundtable discussion involving ministers and key representatives from sectors such as digital technology, supply chains, chemicals, and technology.
A significant takeaway from the discussions was the acknowledgment that while global trends are not moving towards de-globalization, there is substantial fragmentation and adjustment occurring within global supply chains.
It was noted that services trade now exceeds trade in goods, unveiling new opportunities specifically for developing nations. Attendees stressed the importance of improving communication regarding WTO activities targeted at micro, small, and medium enterprises (MSMEs) and the broader public.
Minister Symmonds represented the African, Caribbean, and Pacific (ACP) States, as Barbados currently leads the ACP group in Geneva through its Ambassador to the United Nations and the WTO, Matthew Wilson.
Minister Symmonds highlighted the critical need to remain vigilant against the potential marginalization of MSMEs and smaller economies in global trade, stating, “The ACP is prepared for investment; however, it is essential to address several ongoing challenges, including discrepancies in digital access.”
Key discussions among ministers focused on advancing the WTO agenda in areas such as fisheries, agriculture, and reforming dispute settlement processes.
The necessity for the WTO to confront pressing issues like digital trade and climate-related trade concerns was underscored. Participants expressed worries about the repercussions of reinstating tariffs as a means of protectionism.
WTO Director-General emphasized the importance of maintaining stability amid current trade tensions and called for prioritization of finalizing the Agreement on fisheries subsidies and completing the investment facilitation for a development agreement.
Minister Symmonds, representing the ACP, asserted, “The WTO must undergo modernization for the 21st century. This requires reforming the dispute settlement system, concluding fisheries subsidies negotiations, prioritizing development, and tackling emerging challenges such as climate change, trade, and digital transformation.”
The Barbados delegation included Ambassador Matthew Wilson and Deputy Permanent Representative Kay Sealy.
