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Pandemic has exposed numerous roadblocks to global trade and could even hasten the end of inefficient, paper-based customs procedures.
published : 1 Feb 2021 at 12:30
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Every country trades in goods and services. Not only does trade fuel economic growth and provide jobs, it also raises the living standards of citizens.
However, the prolonged Covid-19 pandemic has had a ripple effect throughout global trade and related activities, forcing governments and international organisations to put their heads together to build back a better future.
After the deep slump brought on by the pandemic in the second quarter, global merchandise trade rose 11.6% in the third quarter of 2020 thanks to eased lockdowns and production resumption in electronics, textiles and automotive parts, according to World Trade Organization (WTO) data.