A. M. 
The Inter-American Development Bank (IDB) and the World Trade Organization (WTO) have decided to strengthen their collaboration to improve trade in Latin America and the Caribbean (LAC). This agreement aims to promote digital trade, attract investment and ensure that the benefits of trade are inclusive. The collaboration was announced during the WTO Public Forum, which brings together various stakeholders to discuss international trade.
Anabel González, IDB Vice President for Countries, highlighted that this partnership is crucial to leverage the joint strengths of both organizations. The goal is to use trade policy to boost economic growth, maximize opportunities in digital trade and attract investment. It also aims to promote more inclusive trade in the region.
Ngozi Okonjo-Iweala, Director General of the WTO, said that this cooperation is an important step in promoting inclusion through trade. The joint work with the IDB is expected to facilitate more equitable trade in LAC, benefiting all countries in the region.
The agreement will focus on digital trade, establishing a collaborative framework to develop a comprehensive policy note and Action Plan. This plan will assess the current state of digital trade in LAC, identify opportunities and challenges, and propose policy recommendations. The objective is to foster collaboration with other organizations and stakeholders to develop the potential of digital trade.
In addition, the collaboration will focus on attracting more foreign direct investment (FDI) and promoting more inclusive trade. The IDB and WTO will support the development of national plans, assess gaps in the sector and help least developed countries implement the Investment Facilitation for Development Agreement. They will also work to integrate small and medium-size enterprises into the global economy and promote gender equality through trade. IDB and WTO to boost digital trade.
