Trade in Services for Development at MC14

Why It Matters

Scaling services trade equips developing nations with diversified, resilient growth pathways, unlocking jobs and inclusive prosperity.

Key Takeaways

• Digital services are driving growth and resilience in developing economies
• Ghana aims to become hub for African Continental Free Trade Area
• WTO and World Bank pledge £1.75 million to boost services trade
• Targeted support will help countries diversify exports and improve industrial competitiveness
• Success could create jobs for SMEs, entrepreneurs, and youth worldwide

Summary

The WTO and World Bank launched the Trade in Services for Development initiative, highlighting digital services as a catalyst for growth in developing economies, with Ghana positioned as a hub for the African Continental Free Trade Area.

Speakers emphasized that ICT, fintech, logistics, and professional services are expanding export opportunities and enhancing the competitiveness of traditional goods sectors. Ghana’s widespread mobile penetration underpins its ambition to diversify into financial, global delivery, and shipping services.

The partners have already pledged £1.25 million and announced an additional £500,000 to fund capacity‑building, policy frameworks, and technical assistance, noting that “services are not separate from industrialization itself.”

If successful, the initiative could yield more diversified economies, resilient growth, and new markets for SMEs, entrepreneurs, and youth, reinforcing a more inclusive global trading system.

Original Description

In Yaoundé on the eve of the 14th Ministerial Conference on 25 March, a group of ministers underscored the central role of services trade in supporting development and emphasized the importance of WTO-World Bank efforts to help developing members overcome challenges. Director-General Okonjo-Iweala called for stronger international partnerships through the Trade in Services for Development initiative to boost support for developing members.

Download this video from the WTO website:

https://www.wto.org/english/res_e/webcas_e/webcas_e.htm