Trade for Sustainable Development Forum calls for concerted action for a sustainable future

The annual flagship sustainability event of the International Trade Centre (ITC), the Trade for Sustainable Development (T4SD) Forum 2024, highlighted solutions to support small businesses to contribute to sustainable development in the context of geopolitical and regulatory challenges.  

The conference brought together 115 people in-person in Bern, and over 1,000 viewers online to discuss the evolving needs of small businesses as sustainability requirements rise alongside concerns related to environmental sustainability and climate change. ITC co-organized the Forum with the Swiss State Secretarial for Economic Affairs this year, on 12 September. 

The event opened with a fireside chat between ITC Executive Director Pamela Coke-Hamilton and the Swiss State Secretary Helene Budliger Artieda about the ‘secret sauce’ behind the long-standing partnership between ITC and Switzerland, prioritizing trade-led sustainable development. Ms. Coke-Hamilton said the shared values of innovation, sustainability and passion for making lives better around the world was key to the partnership. 

During the event, through the panel discussions and keynotes, the following key messages emerged: 

• Pivoting to value addition, away from commodity extraction, is critical to supporting small businesses of developing countries in the long run, enabling them to move up the value chain to earn higher incomes and create jobs.  

• Enabling conditions for entrepreneurship support growth of small businesses, particularly for those in developing countries. This can be achieved through a combination of policies and business support services that open up access to markets and financing, for example.  

• Empowerment of women entrepreneurs ultimately empowers communities.  

• Building the capacity of business support organizations so they can provide timely information and training to small businesses helps creates a more conducive business environment.  

• Private sector partnerships work best when there is a clear understanding of every step of the value chain, particularly with small-scale farmers since challenges at every level vary greatly, depending on the sector.  

• Legal frameworks that support sustainability and create a level playing field is key, along with promoting innovation and sustainability through financial support initiatives.  

• Capacity building for small businesses in developing markets should be complemented with the use of global public goods, like the ITC Standards Map or Global Trade Helpdesk, which help tackle challenges related to data fragmentation and market entry.  

• Internalizing social and environmental costs, which companies will be accountable for, is needed so they perceive sustainability as a value. 

The T4SD Forum concluded with José Serrador, Deputy Chair of B20 Trade & Investment Task Force from Brazil, highlighting the importance of these discussions. He remarked: ‘International organizations hold a critical role in helping to shape the future of global trade. The organizations’ impartiality, convening power, and technical expertise, are essential assets in developing solutions that benefit the entire global trade community’.