DDG Hill noted that while trade is known to have a positive impact on women's economic participation, the global trading system is undergoing significant changes. This is why, she said, “we need to ensure that [the future of trade] holds the promise of a better life, in particular for women.” She focused her intervention on digital trade and trade in services, citing them as some of the main factors that will shape the future of trade.

On digital trade, DDG Hill gave the example of female farmers of coffee and cocoa, who can connect to new markets and access financial services thanks to blockchain-based technology. Cocoa and coffee farmers are struggling financially, given the prices received for the commodities they produce, she said. According to the Fairtrade Foundation, cocoa farmers earn on average just 6% of the final value of a chocolate bar. Thanks to digital technology, they can connect with buyers and cooperate with other farmers, ensuring a fair price for their products.

DDG Hill noted that digital trade can provide women with increased access to global markets and flexible work opportunities. It can remove traditional market entry barriers, including those related to time and mobility constraints. Digital trade can also make available to women finance mechanisms that bypass the traditional barriers to capital. Work conducted by the WTO and the International Finance Corporation suggests that improving access to trade finance could increase West-African countries' trade by as much as 16% or USD 26 billion. Similarly, for the Mekong region, greater access to finance has the potential to boost these countries' trade by up to 8% on average, or USD 58 billion. “In other words,” she said, “digital trade is particularly helpful in overcoming limitations associated with gender bias.”

DDG Hill further emphasized the importance of the services sector for economic inclusion of women. She referred to a joint study by the WTO and the World Bank showing that in 2021, three in five women were employed in services. Women-led firms have also more success in the services sector, especially those delivered remotely or over digital platforms. This suggests that some gender-specific barriers to female entrepreneurship may prove less onerous than in industry.

“But while trade in services can provide more and better economic opportunities for women, it is not bias-free,” DDG Hill added. She referred to a recent report published jointly by the WTO and the World Bank, showing that trade costs, including those related to trade policies, are higher in female labour-intensive services. This suggests that improving the regulatory climate for trade in services can help reduce the female wage gap.

DDG Hill gave examples of initiatives by WTO members and the WTO Secretariat aimed at fostering women's economic inclusion in the services sector and beyond:

• During the 13th Ministerial Conference (MC13) in Abu Dhabi, new disciplines on good regulatory practice for services trade entered into force. These rules will lead to an estimated reduction in services trade costs of more than USD 125 billion worldwide. It is also the first WTO-negotiated text containing a provision on non‑discrimination between men and women. It aims at ensuring non-discrimination in authorization processes, thereby supporting women's participation in services trade.
• Also at MC13, a group of WTO members launched a policy tool mapping current governmental initiatives that support access to finance for women. This compendium can be a valuable source of inspiration for policy makers. It could be particularly helpful in providing alternative means of addressing financial constraints of female entrepreneurs.
• The WTO and the International Trade Centre jointly launched at MC13 a USD 50 million fund to support women exporters. The Women Exporters in the Digital Economy (WEIDE) Fund will provide women-led businesses in developing economies and LDCs with resources needed to adopt digital technologies.
• Since 2020, the Informal Working Group on Trade and Gender has sought to intensify efforts to increase women's participation in global trade.
• In 2022, the WTO Secretariat launched a Gender Research Hub to inform discussions across WTO bodies with research findings.
• The WTO also offers to governmental officials training activities on trade and gender issues.

More information on Trade Finance Global's “Women in Trade” initiative is available here.