IIFT organized a webinar on “Challenges of Trade Negotiations for Developing Countries and LDCs in a Post-Covid Multipolar World

The Department of Economics, IIFT Delhi organized a webinar on “Challenges of Trade Negotiations for Developing Countries and LDCs in a Post-Covid Multipolar World” by Dr. Rajan Sudesh Ratna, Deputy Head and a Senior Economic Affairs Officer at United Nations Economic and Social Commission for Asia and Pacific (UNESCAP).

Dr. Ratna started the discussion with South Asia’s recovery prospects wherein he mentioned that India’s economic recovery is on solid path, aided by rapid vaccination progress, supportive fiscal and monetary stances, robust export growth and public growth. However, high oil prices and coal shortages could dampen economic activity in the near term as rise in inflation due to this and subdued consumption could affect the recovery of all subregional countries especially Bhutan, Nepal, Maldives and Sri Lanka. Encouraging private investments is important for subregional countries’ growth.

He also talked about pre and post covid WTO indicating no changes. Some of the new issues introduced in WTO are Investment facilitation for development, Services domestic regulation, Trade and environmental sustainability, WTO reforms etc.