Exp Policy Recommendation
Fireside Chat - 4 Navigating the Crossroads: Climate Crises and Global Trade
Host: Mr Wasif Naqvi, Senior Research Associate, Sustainable Development Policy Institute, Islamabad, Pakistan
Speaker/Guest: Mr Joshua Setipa, Senior Director Strategy, Portfolio, Partnerships & Digital Division, Commonwealth Secretariat
Key Recommendations:
- Governments need to align trade and tariff policies strategically. This involves policymakers continuously reviewing and adjusting policies to ensure they support competitive sectors and enhance overall trade competitiveness.
- Governments must encourage the diversification of export sectors. Policymakers must identify and support emerging sectors where the country has a competitive advantage, reducing dependency on a limited set of industries.
- Policymakers need to invest in creating systems that are perceived as transparent and efficient, thereby attracting investments and fostering economic growth.
- Targeted support should be provided to SMEs. This involves creating policies that facilitate access to finance, streamline customs procedures, and reduce administrative burdens, fostering a conducive environment for SME growth.
- Governments, particularly those vulnerable to climate challenges like Pakistan, must actively seek and utilize climate finance. Frameworks for accessing funds, implementing programs, and building resilience, with support from international organizations like the Commonwealth Secretariat, are the key here.