The session dedicated to “International Trade and Investment for the Benefit of All” highlighted the key role played by multilateral trade systems in fostering international level-playing field as well as opportunities for SME to benefit from international trade, production and exchanges. Also the importance of dialogue with the civil society in order restore confidence in the institutions as well as the key role played by governments in keeping unnecessary trade expenditures under control and in fighting against unfair trade activities, which are both detrimental for the SMEs.
Italy was represented by Mr Benedetto Della Vedova, Under-Secretary at the Italian Ministry of Foreign Affairs and International Cooperation. Mr Della Vedova wished to remind the G7 Taormina agreement on the role played by free, equitable and mutually-beneficial trade and investments as drivers for growth. He underlined how inclusive growth and multilateralism are at the core of the Italian Presidency of the G7. Protectionism is not the answer to solve imbalances; ex ante measures should rather be implemented, such as sustainable development clauses in trade agreements and controversy-solving mechanisms in case of non-compliance to regulations, and ex post measures, such as backup funds for workers who lose their job. Mr. Della Vedova also wished to highlight the key role that SMEs play in global chains of supply and how crucial t is to involve them while drafting new policies and guidelines.
