Trade and Values: Navigating the Intersection of Policy and Principles

Trade policies have evolved beyond economic efficiency, increasingly reflecting non-trade objectives (NTOs) like climate action, human rights and sustainability. This trend sees countries using market access to promote values-driven agendas – bringing positive changes and new challenges.

Balancing shared values while maintaining open, accessible trade systems is becoming crucial, especially for developing countries. This white paper delves into how the intertwining of values with trade impacts both policy and business. It examines the complexities, from geopolitical tensions to the rise of “friendshoring”, and emphasizes the importance of collaboration and inclusive participation from developing nations.

Businesses are also navigating the balance between economic growth and social responsibility, facing pressures from stakeholders and market demands. The paper ultimately calls for careful management of values-driven trade to ensure it remains a force for inclusive global development and prosperity.