In today’s online discussion on the Future of International Trade after the COVID-19 Pandemic, which was hosted by the Delphi Economic Forum, the Deputy Minister of Foreign Affairs for Economic Diplomacy, Kostas Fragogiannis, stressed the importance of the solidarity and multilateral cooperation brought out by the crisis of the pandemic, which can help “reactivate best practices and avoid misguided approaches for a stable and sustainable economic recovery.”
Also participating in the discussion, in addition to Mr. Fragogiannis, were Phil Hogan, European Commissioner for Trade; Anna-Michelle Asimakopoulou, Member of the European Parliament, Vice-Chair of the International Trade Committee; Peter Sandler, Director at DG trade; Victor do Prado, Director the Council and the Trade Negotiations Committee of the World Trade Organisation; and Eckart von Unger, Deputy Head / Department External Economic Policy of the German Business Representation of the Federation of German Industries.
“The pandemic was a wake-up call for humanity,” Kostas Fragogiannis noted, explaining that the lessons of the crisis are clear and show that the decisions that are taken throughout the world will shape the global economy for the coming decades.
“Now is the time for governments to work together and show their value, capitalising on their capabilities to boost the economic recovery and create a just and sustainable future,” he said, clarifying that “now we have the opportunity to change old habits and build a cyclical, sustainable and resilient economy.”
Referring to the dire projections of the WTO, Mr. Fragogiannis emphasised that we need a resilient multilateral trade system and we have to work hard for that. Decisions on how transactions will function are more important than ever, bearing in mind that international trade can support the recovery.
In this context, he highlighted the importance of the uptake of digital solutions, tools and services, which was accelerated by the pandemic, as the world struggles to continue everyday life and work on-line, turning towards a more digital trade and economy.
May 28, 2020