Barbados now chairs the World Trade Organization’s (WTO) Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs).
Ambassador and Permanent Representative to the United Nations, the World Trade Organization and other International Organisations in Geneva, Matthew Wilson, was elected as the new chairperson of the WTO Joint Initiative, in Geneva, today. He took over the role from Ambassador José Luis Cancela of Uruguay at the end of the discussions.
Ambassador Wilson noted that it is critical for Barbados to be a part of the MSMEs Group. He said: “Given that more than 95 per cent of the businesses in Barbados are MSMEs and account for more than 65 per cent of employment, it is particularly relevant that Barbados has taken the lead in this discussion around ensuring that trade and trade rules work for MSMEs.”
The new chairperson highlighted a number of priorities he hopes the working group would address, such as the impact of climate change and the green transition on MSMEs; a particular focus on women owned MSMEs, and a need to look at issues like access to finance, and small holder farmers.
The genesis of the Working Group dates back to the WTO’s 11th Ministerial Conference (MC11) in December 2017, where 88 members launched discussions on how the WTO could better support MSMEs to participate in international trade.
In December 2020, the group delivered a MSME package of recommendations and declarations, which focused on six areas that addressed the challenges smaller businesses face when they trade internationally.
One of the key deliverables of the Working Group has been the development and launch of the Trade4MSMEs platform that provides an easy to navigate entry point to trade and market intelligence for small businesses, including the International Trade Centre’s Global Trade Help Desk.
It has also worked with the International Chamber of Commerce and the International Trade Centre to celebrate small business champions annually on UN MSME Day.
There are currently 98 WTO members that are part of the Joint Initiative, with Barbados, United Arab Emirates, and the United States of America being the most recent countries to join.
In addition to chairing the WTO Informal Working Group on MSMEs, Ambassador Wilson also chairs the WTO Working Party on the Accession of Curaçao to the WTO, and serves on the Advisory Board of the Forum on Trade, Environment, and the Sustainable Development Goals.