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UN Trade and Development Chief visits Panama Canal before the first Global Supply Chain Forum.
Secretary-General Rebeca Grynspan called for action to combat the growing threats to global trade and supply chains, highlighting the negative impacts of climate change. Rebeca Grynspan, Secretary-General of the UN Organization for Trade and Development (UNCTAD), observed the growing effects of climate change on the Panama Canal during a visit on 18-19 May.
Global situations exacerbate geopolitical challenges that strain worldwide trade and supply chains. These include the ongoing disruptions in the Black Sea, linked to the war in Ukraine, and recent attacks on merchant vessels in the Red Sea.
The Panama Canal, a critical global trade route linking the Atlantic and Pacific oceans, is facing a pressing issue of low water levels due to below-normal rainfall caused by the "El Niño" climate phenomenon. An earlier analysis by the UN Trade and Development Organization estimated that total transits through the canal had declined by 49 percent in January and 42 percent in April 2024 compared to the peak in December 2021.
In this context, the Secretary-General's visit comes just ahead of the first Global Supply Chain Forum, which will be organized by UN Trade and Development and the Government of Barbados in Bridgetown from May 21 to 24.
Global Supply Chain Forum: Key topics covered
The Forum will run for four days, beginning with a high-level segment where Secretary-General Rebeca Grynspan will join UN Under-Secretary-General Amina J. Mohammed and Prime Minister Mia Amor Mottley of host Barbados. Over 60 sessions will occur throughout the event, bringing together government ministers, international organizations, academia, and business leaders in transport, trade, logistics, and supply chain management. Meeting topics include priority issues related to the financing challenge, trade facilitation, transport connectivity, digitalization and technology, climate change adaptation and mitigation, and disaster risk reduction.
It is part of a series of events to celebrate 60 years since the founding of the UN Organization for Trade and Development (UNCTAD), a staunch advocate for the Global South on the world stage.
Considering Development Economies
Resilience and sustainability are at the top of the forum's agenda, given the geopolitical and climate-related challenges that are increasingly changing trade patterns and restructuring supply chains.
In this sense, the forum aims to tackle the unique challenges faced by small island developing states and landlocked developing countries. These economies, far from the main lines of trade, are particularly vulnerable to supply chain disruptions.
Climate Resilience, Digital Solutions and Trade Facilitation
The Forum will help uncover opportunities and challenges for climate change adaptation in transportation and trade logistics, focusing on ports, which facilitate more than 80 percent of global trade in goods.
Turning to the latest digital innovations to facilitate trade, the meeting in Barbados will not only highlight emerging technologies such as blockchain, artificial intelligence and the internet of things, but also inspire us with their potential to reshape cross-border trade processes, increasing efficiency and accessibility, and improving regulatory compliance.
