Business Calls for Urgent OECD Action on Trade Policy Response to Covid-19
8 April 2020 17:00:00

Business at OECD released a statement outlining priorities for a Covid-19 trade policy response with three overarching objectives for OECD:

  • support OECD member and partner countries in establishing necessary, effective, and evidence-based measures to address the Covid-19 pandemic;

  • safeguard that governments do not misuse these developments to adopt or keep arbitrary, discriminatory or protectionist policies that disrupt supply chains and put further strains on the economy;

  • highlight the crucial role of open trade and global value chains as fundamental drivers to recover from this global crisis.

Business at OECD submitted this paper as business input into the virtual OECD Trade Committee meeting of senior trade officials from OECD member and partner countries.

Among others, the paper calls for:

  • OECD to establish a framework to monitor and analyze trade policy measures that are introduced by governments in response to the Covid-19 pandemic

  • OECD in-depth analysis of the impact of COVID-19 on world trade, investment, and global value chains, with policy guidance on international cooperation

  • OECD work towards a reduction in tariff and non-tariff barriers as an effective tool in stimulating the economy, and as part of a holistic economic policy response.