WT/WGTDF/W/9 2 
 
23 September  2019 
(19-6097) Page: 1/1 
Working Group on Trade, Debt and Finance    
 
 REPORT OF THE WORKIN G GROUP ON TRADE, DE BT AND FINANCE (2019 ) 
TO THE GENERAL COUNC IL 
DRAFT  
1.1.  The Working Group held two meetings, on 21 June 2019 and [ 14 October 2019 ], under the 
Chairmanship of H.E. Mr. Refiloe Litjobo (Lesotho).  
1.2.  At the meeting on 21 June 2019, the Working Group heard and discussed recent progress of 
the Director -General and Secretariat 's efforts on improving the availability of trade finance in 
developing countries, notably SMEs. On financing, the WTO has continued to  partner with 
multilateral development banks (MDBs) in mobilizing support at the international level. Since 
2016, overall support to trade finance had increased by about 50% under these program mes. Last 
year, roughly 10,000 trade transactions from mostly SMEs  had been supported by MDBs, 4,500 for 
the Asian Development Bank only. Such program mes had great learning -by-doing value, in 
allowing importers and exporters' banks to get acquainted – and hence to continue trading further 
without support from the multila teral institutions. The WTO Secretariat participated in on -site 
training activities organized by the European Bank for Reconstruction and Development and by the 
African Import and Export Bank (a subsidiary of the African Development Bank). Bearing in mind 
the continued reduction of correspondent banking relationships around the world,  the WTO 
Secretariat also partnered with the International Finance Corporation (IFC) and the Financial 
Stability Board (FSB) in a series more targeted capacity -building events gathering bankers and 
regulators of trade finance in Africa. The dissemination of best practices regarding compliance in 
the trade finance field was a priority. The IFC and WTO prepared a book to show case the best 
practices which emerged during the above -mentioned capacity building activities. The publication 
received contributions from the European Bank for Reconstruction and Development, the Islamic 
Trade Finance Corporation, and the Asian Development Bank. It was launched on 3 July 2019 by 
the Director -General of the WTO and the Chief Executive Officer of the International Finance 
Corporation, along with senior officials of contributing organizations. The book is entitled: "Trade 
Finance and the Compliance Challenge: A Showcase of International Cooperati on". 
1.3.  [At the meeting on 14 October  2019, the Working Group on Trade, Debt and Finance 
reverted to the topic of trade finance and SMEs, notably in developing countries. The Secretariat 
reported orally on the session co -hosted by the WTO Director -General and  the Chief Executive 
Officer of the International Financial Corporation (IFC) at the Aid -for-Trade Global Review, which 
benefitted from the participation of senior representatives of the Islamic Trade Finance Corporation 
(subsidiary of the Islamic Developm ent Bank), the Asian Development Bank and the European 
Bank for Reconstruction and Development. The Secretariat and Members mentioned the recent 
release by the Asian Development Bank of the Global Trade Finance Gap Study 2019, which 
estimated the global tr ade finance gap at US$1.5 trillion in 2018].  
1.4.  [On …… , the Working Group adopted its Annual Report (2019) to the General Council ]. 
 
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