Building back better with sustainable trade
Published 27 October 2020 | 5 minute read
On 27 October 2020 the Hinrich Foundation and Economist Intelligence Unit jointly launched the Sustainable Trade Index 2020, at an event co-organized with the UNESCAP-ARTNeT.
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The Sustainable Trade Index 2020 was released on 27 October 2020 at an event co-organized with the United Nations Economic and Social Commission for Asia Pacific (UNESCAP) and it's Asia-Pacific Research and Training Network on Trade (ARTNeT).
Participants discussed the importance of sustainable trade for building more resilient economies and communities, and policy priorities for dealing with some new risks created by stimulus measures.
Speakers included:
- Mia Mikic, Director, Trade, Investment and innovation Division, United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP)
- Christopher Clague, Managing Editor/Global Editorial Lead, Trade and Globalization, The Economist Intelligence Unit
- Sara Elder, Senior Economist and Head, Regional Economic & Social Analysis (RESA) Unit, ILO Regional Office for Asia and the Pacific
- Susan Stone, Head, Emerging Policy Issues Division, Trade and Agriculture Directorate, OECD
- Jayant Menon, Visiting Senior Fellow, ISEAS-Yusof Ishak Institute in Singapore, and former Lead Economist at the Asian Development Bank
- Stephen Olson, Research Fellow, Hinrich Foundation
The event was moderated by Andrew Staples, Director of Research and Outreach, Hinrich Foundation
Highlights from the discussion included:
- A presentation of the index findings and policy recommendations
- An identification of the silver linings of the pandemic and new sustainability risks emerging from stimulus measures
- A discussion about the role of technology and innovation in transitioning economies towards sustainable development
- A discussion about the best approaches to handle the trade-offs between managing health risks and economic survival for avoiding a further widening of development gaps within and between emerging economies
- A discussion about the need to strengthen labor protection regulations in many APAC countries
“Sustainable trade is trade delivering economic results while internalizing social justice and environmental responsibility. The COVID-19 pandemic has thrown many of us out of our normal trajectory, staying at sustainability course is the only way we can benefit from this crisis in the long run”Mia Mikic - Director of Trade, Investment and Innovation Division, UNESCAP
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About the Hinrich Foundation Sustainable Trade Index
Commissioned by the Hinrich Foundation, and constructed by The Economist Intelligence Unit, the Sustainable Trade Index measures the capacity of 20 economies – including 19 in Asia, and the United States as an external benchmark – to participate in the international trading system in a manner that supports the long-term domestic and global goals of economic growth, environmental protection and strengthened social capital. The 2020 edition of the index is the 3rd, following previous reports in 2016 and 2018.
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