Trading Better, Living Better - BIAC Trade Priorities

The security, sustainability, and success of our economies do not stand in contrast with open markets and rules-based international trade - they rely on them. 

In response to the 2023 OECD Trade Strategy, and in the context of ongoing discussions on the future OECD work program, this document (Trading Better, Living Better - BIAC Trade Priorities) provides a considered assessment of business priority issues for trade policy, drawing on the practical experience of a wide and regionally diverse business constituency. We will share this document with OECD leadership, OECD Trade Committee representatives, as well as Paris-based delegations, and encourage you to share them widely with your colleagues and constituencies.

BIAC trade priorities are:

• Fostering Rules-Based, Robust, Resilient Trade
• Strengthening the Foundations of Open Markets
• Advancing Digital Trade, Data Flows and Innovation
• Levelling the Playing Field
• Securing Public Support for Open Markets

According to the latest WTO trade forecast released on 5 October, projections for growth in global merchandise trade in 2023 have been scaled back, and the volume of world merchandise trade is now expected to grow by only 0.8% this year - less than half the 1.7% increase forecasted in April. This is cause for concern, given the adverse implications for the living standards of people around the world.

We call on the OECD Trade Committee to take a leadership role to effectively address these priorities in the upcoming biennial work program. Business at OECD believes that addressing these challenges and maximizing opportunities can only be achieved if the OECD, governments, and business work closely together.