Geneva, Redha Abdulla Faraj, Deputy Head of the Economic and Financial Affairs Committee at Shura Council, participated in the World Trade Organization (WTO) public forum, which brought together international stakeholders under the theme “Reglobalisation: Better Trade for a Better World.” As a member of the steering committee of the WTO Parliamentary Conference, Faraj contributed to discussions on the future of trade in the context of emerging technologies and global shifts.

Faraj underscored the need for in-depth studies on the impact of technology and artificial intelligence on global trade and employment, urging the WTO to take the lead on these efforts. He emphasised that such research should be practical and actionable, rather than purely theoretical, to benefit the global trade community.

He also commended the WTO’s focus on next-generation trade and development, stressing the importance of providing young people with guidance and advanced marketing support.

He pointed out that a recent study on the
impact of trade on jobs and wages was constrained by short-term data, especially considering recent global disruptions such as COVID-19. He called for a more thorough analysis of how technology and AI are transforming trade, employment, and productivity.

Faraj also took part in discussions on the newly released World Trade Report 2024, which examined the challenges and opportunities for low- and middle-income countries in the global trade arena. He stressed the importance of infrastructure development and financial backing for developing nations to help them integrate into the global economy and achieve their economic objectives.

In addition, he participated in sessions focusing on youth inclusion in trade, sustainable agriculture, and the future of global trade amidst geopolitical changes, highlighting the need for collaboration and innovation to address these critical issues.

Source: Bahrain News Agency