The field is set for Barbados to host this year’s Global Supply Chain Forum (GSCF), in collaboration with the United Nations Conference on Trade & Development (UNCTAD).
This assurance comes Donna Forde, Director General of the Ministry of Foreign Affairs, who spoke at the official media launch for this year’s forum, which is entitled Transport, Logistics and Trade Facilitation for Trade-driven Development.
The conference, which will see just over 100 delegates from across the world will be the first of its kind to be held, to help develop the global supply chain in a more sustainable and resilient way, particular for Small Island Developing States (SIDS) who often face a number of export and import challenges in the face of global economic shocks. Forde told media personnel that conference has come at the right time, given the challenges being face in the region and in other SIDS.
“Small Island Developing States are dependent on international trade for economic and sustainable development given their limited resource endowments. SIDS are heavily reliant on supply chains to ensure businesses and citizens have access to the required goods and services.”
She added: “Maritime transportation accounts for around 80 per cent of international trade, and disruptions to that section will undermine the economic recovery achieved thus far in the post-pandemic period.”
Statistics from July 2022 provided by UNCTAD demonstrate how seriously the supply chain crisis has affected SIDS. SIDS had increases in import and consumer prices of 26.7% and 8.1%, respectively, whereas global increases were 1.9% and 1.6%. Forde voiced worry about the financial strain this puts on Small Island Developing States (SIDS), which may affect their capacity to continue economic growth, uphold living standards, and accomplish Sustainable Development Goals.
Carlos Wharton, Ministry’s National Coordinator for the GSCF, said that while immediately solutions to trade issues will not be solved, the conference is the first step in SIDS receiving equitable treatment.
“The major important milestone is the fact that UNCTAD is taking the time and the attention to focus on global supply chains. UNCTAD is a dedicated UN body responsible for trade and development, and it’s absolutely critical that at the core of the system, the United Nations has a say on how global supply chains are to operate.
“So, from my perspective, the success of this Forum is the fact that it is actually being held.”
The high-level conference will be held from May 21 to 24, at the Lloyd Erskine Sandiford Centre (LESC)
