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LONDON, UK – June 14, 2023 – Trade Finance Global (TFG) is proud to reaffirm its partnership with Trade4MSMEs in light of the forthcoming World Trade Organization (WTO) MSME Day on 27 June 2023.
The WTO Informal Working Group on MSMEs has been integral in shaping international initiatives for the growth and support of small businesses. Recently under the new coordination of Ambassador Matthew Wilson of Barbados, the group has discussed crucial subjects like the benefits of digitalisation for small businesses, intellectual property rights, and sustainability standards.
The group launched the 2023 edition of the Small Business Champions Initiative in March, aimed at aiding smallholder farmers to participate in global markets. It has also driven discussions on trade and environmental sustainability, underlining their commitment to align trade with environmental preservation.
On June 8, 2022, the group launched the Trade4MSMEs network, a partnership aimed at enhancing the capacity of MSMEs to participate in global trade.
A new chapter for Trade4MSMEs
This year, WTO MSME Day will witness the relaunch of the Trade4MSMEs website, a dedicated platform designed to empower and enhance the capabilities of small businesses for their participation in international trade.
As partners, TFG contributes to the vision of Trade4MSMEs, providing support and resources that help MSMEs navigate the complex world of trade and trade finance.
The revamped platform is backed by global entities such as the United Nations Commission on International Trade Law (UNCITRAL), the International Chamber of Commerce (ICC), the World Customs Organization (WCO), and UK Aid.
Ambassador Matthew Wilson, WTO MSME Group Coordinator said, “Access to information and trade intelligence continues to be one of the greatest challenges for small traders. Trade4MSMEs acts as a gateway to verified data resources for businesses and policymakers and it is one further step towards more user-centric online trade tools.”
Deepesh Patel, editor at TFG, said, “As part of our partnership, we are dedicated to supporting MSMEs, which make up 95% of global businesses, overcoming challenges in the world of international trade.”
Gamifying trade, with ‘The Trade Game’
Adding to the celebrations, WTO MSME Day will also see the unveiling of “The Trade Game”, designed and developed by the Institute of Export & International Trade (IOE&IT) in partnership with the WTO Informal Working Group on MSMEs.
This innovative and interactive tool aims to engage and educate MSMEs about the dynamics of global trade.
The game provides an immersive learning experience, helping users grasp the concept of the global trade system, understand trade deficits, explore how goods are traded between countries, and comprehend the role and impact of trade agreements.
Marco Forgione, director general, IOE&IT said: ”The Institute of Export & International Trade‘s mission is to encourage more businesses to trade internationally. Our team of experts help individuals, businesses, regulators, governments and international bodies by providing formal qualifications, training programmes, advice, guidance, policy and regulation insights to promote compliant, healthy international trade.
With the launch of this innovative, interactive game IOE&IT is helping to teach individuals about the mechanics of international trade. It brings to life the real experience of trading. Students become players who must navigate the same challenges and decision points real-life exporters face each day.”
Celebrating WTO MSME Day 2023
MSME Day, held on 27 June, 2023, is a significant global event commemorating the contributions of MSMEs in international trade.
The hybrid event, accessible in-person or via Zoom, includes key sessions such as presentations on the new Trade4MSMEs website, demonstrations of The Trade Game, and panel discussions on the challenges and opportunities for smallholder farmers in international trade.
For registration, please visit the official site – https://worldtradeorganization.zoom.us/webinar/register/WN_bipioCPpThOeTafTD17Eqw.