ModeratorMs. Emma McClarkin, Member of the Committee on International Trade of the European Parliament
Trade in finished products represents only one-quarter of total trade in goods and services. International production, trade and investments are increasingly organized within global value chains, where the different stages of the production process are located across different countries. This change requires new policies based on proactive engagement in order to ensure inclusive and sustainable growth. The fragmentation of production has created new opportunities for some developing economies and small and medium-sized enterprises, allowing them to access global markets as services suppliers or producers of components. This interdependence, however, also presents challenges. The session will discuss the role of parliaments in formulating trade policies that take into account the spread of global value chains and in providing their adequate support through legislation, regulation and peer pressure.