WTO: MC14 event calls for scaling up support for Trade in Services for Development initiative in World Economy News 27/03/2026 In Yaoundé on the eve of the 14th Ministerial Conference on 25 March, a group of ministers underscored the central role of services trade in supporting development and emphasized the importance of WTO-World Bank efforts to help developing members overcome challenges. Director-General Okonjo-Iweala called for stronger international partnerships through the Trade in Services for Development initiative to boost support for developing members. “If we succeed, the benefits could be transformative: a global trading system that delivers more clearly on its promise of inclusive development,” she said. The WTO-World Bank Trade in Services for Development (TS4D) initiative, launched in September 2024, is a capacity-building and technical assistance programme designed to help developing economies take advantage of opportunities presented by trade in services. At the event, the United Kingdom announced a new contribution of GBP 500,000 to the WTO Global Trust Fund to support technical assistance to developing economies, in particular the Trade in Services for Development initiative. In her keynote speech, the Director-General said it is clear that services are no longer a secondary part of the economy, but are as critically important as agriculture and manufacturing. “Services already account for more than half of economic activity in most economies. But their importance goes far beyond their direct contribution to GDP and employment,” she stressed. DG Okonjo-Iweala highlighted the new opportunities created by services, particularly those powered by digital technologies, including enhancing connectivity, adding value to production chains, and diversifying exports. However, developing economies face challenges in harnessing services trade for development, she added. These challenges include complex regulatory environments, limited statistics and policy data, and insufficient integration of services trade in broader development and export strategies – obstacles that the TS4D initiative seeks to address. Noting developing economies’ strong demand for support, the Director-General said this initiative will help them “better understand their services trade potential, strengthen their policy frameworks, and build the capacity needed to turn opportunities into real development outcomes.” The Director-General called on all TS4D partners – including development banks and international organizations – to scale up support for developing economies through strengthened partnerships and expanded capacity-building and technical assistance to translate emerging opportunities into concrete action. Ministers shared their country experiences and highlighted needs for practical support, including better data, improved regulatory frameworks, and stronger integration of services into national development strategies. They acknowledged the new TS4D tools as valuable resources for achieving these objectives. Elizabeth Ofosu-Adjare, Minister of Trade, Agribusiness and Industry of Ghana, said: “Services trade is no longer complementary to our economy. It is central because it supports transformation, diversification, job creation and resilience. The Services Trade Competitiveness Diagnostic Dashboard helps identify sectors where countries have comparative advantages and areas requiring reform, enabling more targeted and evidence-based policymaking.”