Reported by: Ijeoma G | Edited by: Gabriel Osa
A major step toward reshaping global trade conversations unfolded as the World Trade Organization, in partnership with the World Bank Group and other international bodies, convened its first-ever Trade in Services for Development Conference. The gathering drew a diverse audience of policymakers, private sector leaders, civil society actors, and senior government officials, all seeking practical avenues to drive economic growth in an increasingly turbulent global trading environment.
The conference underscored the rising importance of trade in services as a powerful engine for revitalizing economies, especially at a time when supply chain shocks, geopolitical tensions, and fluctuating commodity markets are redefining global commerce. With digital transformation accelerating worldwide, services — from finance and logistics to ICT, creative industries, professional consultancy, and digital trade — are emerging as critical growth frontiers for both advanced and developing economies.
Ngozi Okonjo-Iweala highlighted the significance of this moment, noting that countries must be ready to seize the expanding opportunities that service-oriented trade presents. She emphasized that the conference was intentionally designed to produce concrete, actionable outcomes rather than broad policy declarations. A series of new tools were unveiled during the event, targeted at helping governments and private businesses identify service-sector opportunities, strengthen competitiveness, and adopt regulatory frameworks that support innovation and cross-border collaboration.
Nigeria featured prominently at the gathering, with the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, delivering a keynote address that resonated strongly with participants. Her contribution set the tone for a high-level panel discussion that included WTO Deputy Director-General Angela Ellard (represented by @johahill), Saudi Arabia’s Vice Minister of Commerce and CEO of the National Competitiveness Center, Dr. Eiman Al-Mutairi, Cambodia’s Secretary of State for Commerce, Tekreth Kamrang, and senior representatives from the World Bank Group, the United Kingdom, and leading private-sector institutions.
Their conversation examined how countries can build resilient service sectors capable of withstanding global shocks, diversify their economies, and create millions of new jobs. They also explored the regulatory reforms needed to boost competitiveness and attract investment, as well as the role of technology in expanding service exports, especially for developing countries seeking to integrate more fully into global value chains.
From a Stone Reporters perspective, the theme echoes ongoing global shifts witnessed in recent months, where nations increasingly look beyond traditional goods-based trade to tap into high-value service industries for economic stability. The trajectory mirrors similar trends in Africa, Asia, and the Middle East, where governments are adopting digital strategies, expanding fintech regulation, and training workforces for service-driven economies.
A broader observation suggests that as geopolitical pressures reshape global markets, countries with strong service sectors may better withstand external shocks compared to those dependent on commodity exports. For developing nations in particular, the emergence of digital services, remote professional work, and technology-enabled industries offers a chance to leapfrog infrastructure gaps and compete at a global level.
The conference’s success marks a strategic pivot for international trade policy, signalling a growing consensus that services — once considered secondary to traditional exports — now represent a defining pillar of future economic growth. With strengthened partnerships and tangible tools now in circulation, nations are being equipped to explore fresh pathways for sustainable development.
As stakeholders return home, the conversations that began at the WTO are expected to spark further reforms, bilateral collaborations, and domestic policy shifts aimed at unlocking the full potential of the services sector. In a world grappling with economic volatility, the momentum generated at this gathering could help shape a more inclusive and resilient global trading system.
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