Martial Arts, Hosting the 'Post COVID-19 Virtual International Conference'

[Asia Economy Reporter Yoonju Hwang] The Korea International Trade Association (KITA) announced that it held a virtual international conference on the 27th to review the international trade environment in preparation for the post-COVID-19 era and to discuss international cooperation for the restoration of a multilateral trade order.

The conference featured KITA's Chief Trade Negotiator Yoo Myung-hee representing Korea, along with speakers including Alan Wolff, Deputy Director-General of the World Trade Organization (WTO); Mary Ng, Canadian Minister of Trade; Wendy Cutler, Vice President of the Asia Society (former USTR Deputy Representative); Mary Lovely, Senior Fellow at the Peterson Institute for International Economics in the U.S.; and Professor Ahn Deok-geun from Seoul National University’s Graduate School of International Studies, among other domestic and international trade experts.

In her opening remarks, Chief Negotiator Yoo Myung-hee emphasized, "In response to the lack of global leadership caused by recent U.S.-China conflicts and protectionism due to the pandemic, international cooperation is more important than ever," adding, "A multilateral trade system that guarantees the free movement of goods and people across borders will be the key to overcoming global crises."

She continued, "Korea will cooperate with several middle powers to contribute to strengthening the functions of the WTO and multilateralism," and stated, "It is also urgent to establish ‘Global Trade and Investment Guidelines’ to address future crisis situations."

Domestic and international experts who participated as presenters and discussants agreed that restoring multilateralism is urgent to normalize global trade, which has been contracted due to the pandemic. Alan Wolff, who presented at the conference, urged, "Despite various difficulties, the WTO needs the roles of member countries like Korea to function as a medium for cooperation, harmony, and consultation."

Shin Seung-kwan, Director of the Trade Support Center at KITA, which organized the event, emphasized, "We will continue to provide a platform for discussions on international cooperation in the post-COVID-19 era, while expanding our role as a private think tank by conveying the opinions of the trade industry, analyzing trade issues, and providing information."