WT/WGTDF/W/98  
17 December  2020 
(20-9162) Page: 1/3 
Working Group on Trade, Debt and Finance  Original:  French  
 
  
QUESTIONS REGARDING ACCESS TO TRADE FINANCE  
IN THE CONTEXT OF COVID -19 
COMMUNICATION FROM CÔTE D'IVOIRE  
Côte d'Ivoire submits this text proposal as a basis for discussion  in the context of the activities of 
the Working Group on Trade, Debt and Finance, in relation to discussions  within the Informal Working 
Group on Micro, Small and Medium -sized Enterprises (MSMEs) , and reserves the right to revise it or 
propose additional elements  and/or provisions . 
 
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1.1.  The aim of the present proposal is to enable  WTO Members to take all possible steps to consider  
and/or propose means of facilitating MSMEs ' access  to trade finance . This should enable  MSMEs, 
particularly in developing countries and least developed countries (LDCs), to solve the problems they 
face regarding trade finance, which have intensified  as a result of COVID -19, in a context  of economic 
recovery during and after the pandemic.  
1.2.  Most developing countries and LDCs, including Côte d'Ivoir e, are still facing many difficulties  
regarding access  to trade  finance . These difficulties, which are major obstacles prevent ing MSMEs 
from seizing the trade opportunities provided  by the WTO agreements, have grown more serious as 
a result of COVID -19. 
1.3.  Côte d'Ivoire therefore invite s the Working Group on Trade, Debt and Finance, in accordance 
with paragraph 36 of the Doha Ministerial Declaration (WT/MIN(01)/DEC/1 of 20 November  2001) , 
to explore concrete solutions that could  be implemented to enable compan ies in LDCs to have easier 
access to trade finance , especially small and medium -sized enterprises  (SMEs) that form the vast 
majority of importers and export ers. 
1.4.  Côte d 'Ivoire would also like the Working Group on Trade, Debt and Finance to contribute to 
implementation of the proposals adopted on 1 1 December  2020 by the  Informal Working Group on 
MSMEs, in particular the "Declaration on addressing the trade -related asp ects of MSMEs ' access to 
finance and cross -border payments " (annex attached) . 
1.5.  The preamble to this Declaration  highlights the fact that access to finance has always been the 
main obstacle to growth for most MSMEs in developing countries and LDCs . In this regard, it should 
be noted that sub-Saharan Africa accounts for the highest  proportion of financially constrained SMEs 
in the world  (54%). The finance gap for the 44 million  MSMEs in sub-Saharan Africa was estimated 
at US D 31 billion  in 2018.  
1.6.  It should be noted that MSMEs ' financial situation has deteriorated significantly as a result of 
the COVID -19 pandemic . Many MSMEs  are still feeling the immediate effects of COVID -19. They are 
facing  drastic reductions in revenue because of the fall in dem and, with traditional sources of cash 
drying up . Furthermore, despite efforts to comply with the main banking standards , many SMEs are 
often denied  access to loans or are subjected to excessive collateral  requirements because of 
information  asymmetries . WT/WGTDF/W/98  
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  1.7.  On the basis of the above , the primary aim of the "Declaration on addressing the trade -related 
aspects of MSMEs ' access to finance and cross -border payments " is to facilitate  MSMEs ' participation 
in trade through improved access to finance . In particular, it invites the members of the Informal 
Working Group on MSMEs to : 
• exchange good practices in this area and share information on relevant technical 
assistance and capacity -building activities ; 
• establish a framework to favour international initiatives aimed at facilitating adoption of a 
global legal identification system for companies , such as the global Legal Entity Identifier 
(LEI); and 
• cooperate on the implementation of all these initiatives.  
1.8.  The Declaration also invites the WTO Secretariat to organize, with the support of relevant 
international organizations, information sessions on topics related to MSMEs ' access to international 
trade finance, such as the global Legal Entity Identifier (LEI), to inform Memb ers' discussions and 
potential actions.  
1.9.  It also encourages  all WTO Members to actively engage in consider ing and/or propos ing means 
to facilitate MSMEs ' access to financial solutions for trade, in particular trade finance, in the context 
of the economic re covery during and after the COVID -19 pandemic , especially  in the most affected 
developing countries and LDCs.  
1.10.   In light of the above , Côte d 'Ivoire urges the Working Group on Trade, Debt and Finance 
(paragraph 36 of the Doha Ministerial Declaration (WT/MIN(01)/DEC/1 of 20 November  2001)) to: 
a. explore  what concrete solutions could be implemented to enable companies , particularly 
SMEs, in LDCs and other affected countries to have easier  access to trade finance ; 
b. help affected coun tries to identify in particular means of trade finance  that it might be 
possible to mobilize in these countries ; and 
c. ask any volunteer Members, the WTO Secretariat  and competent multilateral organizations 
to exchange good practices in this area, to share i nformation on technical assistance 
measures  and to organize the necessary workshops and, lastly, to discuss international 
initiatives aimed at facilitating the ado ption of a global legal identification system for 
companies, such as the global Legal Entity Identifier (LEI) . 
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  WT/WGTDF/W/98  
- 3 - 
  ANNEX  
 
DECLARATION ON ADDRESSING THE TRADE -RELATED ASPECTS  OF 
MSMES' ACCESS TO FINANCE AND CROSS -BORDER PAYMENTS  
ANNEX 6 TO DOCUMENT INF/MSME/4)  
Recalling the Declaration on the Establishment of the WTO Informal Work Programme for MSMEs 
(WT/MIN(17)/58/Rev.1);  
 
Recognizing that the participation of MSMEs in international trade contributes significantly to the 
socioeconomic development of developing countries,  particularly the least developed countries 
(LDCs);  
 
Noting that significant challenges associated with trade -related aspects of MSMEs' access to finance 
and cross -border payments impede MSMEs' integration in international trade;  
 
Considering that the bank penetration rate in developing countries and particularly in LDCs is very 
low and, moreover, that finance for MSMEs by traditional operators (banks, investment funds and 
donors), in particular trade finance, is extremely difficult in developi ng countries and particularly in 
LDCs and impedes MSMEs' participation in international trade;  
 
Noting that various means such as a global legal identification of companies or digitalization are 
available that can facilitate addressing the challenges assoc iated with trade -related aspects of 
MSMEs' access to finance;  
 
Acknowledging that MSMEs are facing a range of other financial challenges to participate in 
international trade, such as issues related to cross -border payments;  
 
Noting the severe impact that the COVID -19 pandemic has on MSMEs and the key role that 
addressing the trade -related aspects of MSMEs' access to finance and cross -border 
payments - among other necessary initiatives - plays in helping MSMEs face the trade -related 
challenges resulting fro m the pandemic;  
 
We, the members of the Informal Working Group on MSMEs:  
 
1. Call on WTO Members to consider the trade -related aspects of MSMEs' access to finance and 
cross-border payments and to actively engage in relevant fora, such as the Informal Worki ng 
Group on MSMEs in cooperation with relevant WTO bodies and relevant multilateral 
institutions, to identify concrete measures that can facilitate addressing the challenges linked 
thereto with a view to promote their international diffusion, particularly through:  
 
(a) the exchange of best practices ; and 
 
(b) information -sharing on relevant technical assistance and capacity -building;  
 
2. Welcome international initiatives  aimed at facilitating adoption of a global legal identification 
system for companies such as the global Legal Entity Identifier (LEI) and invite WTO Members 
to cooperate in such initiatives ; 
 
3. Invite the WTO Secretariat  to organize, with the support of relevant international 
organizations, information sessions on topics related to trade -related aspects of MSMEs' 
access to finance and cross -border payments including, for example, the global Legal Entity 
Identifier (LEI), to inform reflections and potentia l actions of Members;  
 
4. Encourage all WTO Members, in cooperation with other multilateral institutions, to consider 
the trade -related aspects of MSMEs'  access to finance  and cross -border payments, taking into 
account the context of the economic recovery during and post -COVID -19, particularly, in the 
most affected developing countries and LDCs.  
 
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