On the occasion of 20th anniversary of the International Institute for Trade and Development (ITD), the ITD hosted “Trade and Development Regional forum 2021” with the theme of “Recharging Asia: Inclusive Growth and Sustainable Development amidst Post Pandemic World” to encourage discussions between policymakers, private sector, academics, and all individuals on developing approaches and guidelines for Asia to fully re-emerge to its true potential both economic and social perspectives from the tide of COVID-19.
In order to better understand the pandemic consequences and recommend possible solutions, the ITD also launch commission papers on 5 different topics, which are 1) BCG Model: Fostering Sustainable Development in Thai Economy 2) COVID-19 and Disruption in Supply Chains: Case study of Asia-Pacific Region 3) E-commerce in India and Japan 4) The consequences of the COVID-19 pandemic to unlocking the potential Aid for eTrade in Laos 5) Thailand’s International Investment Agreements: Moving Towards A More Balanced Investment Protection Regime?
The paper “COVID-19 and Disruption in Supply Chains: Case study of Asia-Pacific Region” studies the pandemic consequences on international trade in Asia Pacific region, which is known as “Factory of the World” due to its high participation in global value chains (GVCs). The study finds that the pandemic impact varies across country, sector and trade directions. The Asia-Pacific also apply several trade measures both import and export side in response to the pandemic crisis. The paper suggests policymakers to ensure better trade facilitation by taking into account different context of sectors and trade flows. In addition, policymakers should maximize the benefit of RTAs and FTAs by negotiating for better trade flows of products that frequently move cross border within the region in high volumes.