6 Policy Actions Needed for a Post-Pandemic World: UNCTAD

The United Nations Conference on Trade and Development (UNCTAD) has suggested six priority areas for policy action to be taken in response to the COVID-19 pandemic and the persistent challenges facing the maritime transport and trade of developing countries. The suggestions are part of the Review of Maritime Transport 2020 document released recently by the UN body.

UNCATD has recommended supporting trade so that it can effectively sustain growth and development. Trade tensions, protectionism, export restrictions, particularly for essential goods in times of crisis, should be avoided to the extent possible as these bring economic and social costs.

Further, non-tariff measures and other obstacles to trade should be addressed, including by stepping up trade facilitation action and customs automation, it said.

The second priority area should be to help reshape globalisation for sustainability and resilience. Disruptions caused by the COVID-19 outbreak have re-ignited the debate on the risks associated with international manufacturing production and extended supply chains. It will be important to carefully assess the varied options when it comes to changes in supply-chain design and outcomes that are aligned with the Sustainable Development Goals and the 2030 Agenda for Sustainable Development, it said.

The third point suggested is to promote greater technology uptake and digitalisation. Polices should support a digital transformation that improves the resilience of supply chains and their supporting transportation networks.

For maritime transport to play its role in linking global economies and supply chains, it should leverage the crisis by investing in technology and adopting solutions that meet the needs of the supply chains of the future and support resilience efforts.

Digitalization efforts should enable enhanced efficiencies, including energy efficiency, and productivity in transport. It should also help countries tap e-commerce capabilities and transport facilitation benefits that boost trade. For more impact, cybersecurity should be strengthened at all levels, the UNCTAD report says.

The fourth suggestion is to harness data for monitoring and policy responses. The use of fast-evolving data capabilities can support efforts to forecast growth and monitor recovery trends. New sources of data and enhanced possibilities emanating from digitalisation provide ample opportunities to analyse and improve policies.

The fifth one is to enable agile and resilient maritime transport systems. There is a need to invest in risk management and emergency response preparedness beyond pandemics. Futureproofing the maritime supply chain and risk management require greater visibility of door-to-door transport operations.

The sixth priority area is to maintain the momentum on sustainability, climate-change adaptation and building resilience. Current efforts to deal with carbon emissions from shipping and the ongoing energy transition away from fossil fuels should remain a priority.

Governments could direct stimulus packages to support recovery while promoting other priorities such as climatechange mitigation and adaptation action. Thus, policies adopted in the context of a post-pandemic world should support further progress in the shipping industry’s transition to greening and sustainability,the UNCTAD report says.

Sustainability and resilience concerns, such as connectivity among small island developing States and climate-change adaptation, also remain key priorities, the document adds.

This content originally appeared on Fibre2Fashion


Please enter your comment!
Please enter your name here

Latest Articles

Get News Updates