Multilateralism for trade and development

Protectionism was already on the rise before the world economy was struck in 2020 by the global outbreak of the COVID-19Infectious disease caused by the strain of coronavirus SARS-CoV-2 discovered in December 2019. Coronaviruses are a large family of viruses which may cause illness in animals or humans. In humans, several coronaviruses are known to cause respiratory infections ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS). The most recently discovered coronavirus causes coronavirus disease COVID-19 -—
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—-., which affected global trade through both supply and demand shocks. Merchandise trade declined in 2020, and many governments imposed barriers to exports of medical products and lowered the tariffsTariffs “are customs duties on merchandise imports, levied either on an ad valorem basis (percentage of value) or on a specific basis (e.g. $7 per 100 kg). Tariffs can be used to create a price advantage for similar locally produced goods and for raising government revenues. Trade remedy measures and taxes are not considered to be tariffs.” -—
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—- on imports of agricultural products to maximize the supplies of critical goods on domestic markets. The COVID-19 health crisis has introduced a new agenda for multilateralism, focused on areas including economic recovery, climate, global health, and trade. Resilient world trade is seen as an engine to build back better post-COVID world, and as an important means to achieving the 2030 Agenda for Sustainable Development. This theme on multilateralism for trade and development of SDGSustainable Development Goal Pulse:

1. Provides analysis and statistics on International trade in developing economies, including merchandise and services trade, such as tourism.
2. Assesses progress in the special and differential treatment for developing countries and studies new developments in Towards inclusive trade in a post-COVID world.
3. Analyses trade restrictions and distortions in world agricultural markets and presents statistics on the links between Trade, food security and sustainable agriculture.
4. Examines the role of Policies to promote trade (International cooperation and multilateral mechanisms), including Aid for TradeMeasures aimed at assisting developing countries to increase exports of goods and services, to integrate into the multilateral trading system, and to benefit from liberalized trade and increased market access. It is considered as part of ODA. Effective Aid for Trade will enhance growth prospects and reduce poverty in developing countries, as well as complement multilateral trade reforms and distribute the global benefits more equitably across and within developing countries -—
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   —-. It is measured as gross disbursements and commitments of total ODA from all donors for Aid for Trade -—
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   —-., in support of developing countries, particularly LDCsLeast developed country.