In a significant initiative aimed at enhancing the efficiency, resilience, and sustainability of global supply chains, the United Nations Conference on Trade and Development (UNCTAD) and the Government of Barbados have joined forces to organize the inaugural Global Supply Chain Forum. Set to take place in Bridgetown, Barbados’ capital, from May 21 to May 24, 2024, the high-level forum will bring together government officials, business leaders, and experts to explore strategies for promoting sustainable and resilient transport and logistics, improved connectivity, and streamlined trade facilitation.
Several key issues will be addressed during the forum, including digitalization, food security, transportation costs, climate change, financing needs of developing countries, and the effective management of the energy transition in international transport. UNCTAD Secretary-General Rebeca Grynspan emphasized the importance of making shipping and supply chains more efficient, resilient, and environmentally friendly, stating, “To help resolve the current cascade of global crises and prepare for the future, we need shipping and supply chains to be more efficient, more resilient and far greener.”
Barbados’ ambassador to the United Nations in Geneva, Matthew Wilson, underscored the critical role that strong and predictable supply chains play in helping developing countries navigate the multifaceted challenges of the ongoing global crises. He expressed his belief that the Global Supply Chain Forum will provide countries with a platform to generate solutions that support climate change adaptation, food security, and economic growth.
Over the past three years, maritime trade has borne the brunt of various crises, including the COVID-19 pandemic, the conflict in Ukraine, climate change, and geopolitical tensions. These disruptions have resulted in congested ports, route reconfigurations, extended delays, and increased shipping and logistics costs. As ships transport over 80% of global trade, these disturbances have had severe consequences, preventing the timely delivery of essential goods such as food, energy, and medicine to those in need. Developing countries, particularly small island developing states, landlocked nations, and certain regions in Africa, Asia-Pacific, the Caribbean, and Latin America, have been disproportionately affected by these supply chain disruptions.
With the impending energy transition in international transport, particularly in air and maritime shipping, the risk of further disruptions looms large. Therefore, the Global Supply Chain Forum aims to equip countries with the necessary policy actions and strategies to better cope with future shocks to global supply chains.
The decision to organize this forum aligns with the call made by Barbados’ Prime Minister, Mia Amor Mottley, during the 15th UNCTAD ministerial conference, wherein she urged the international community to build resilient supply chains in developing countries. This call was reinforced by the adoption of the Bridgetown Covenant at the conference. Additionally, the forum responds to the Bridgetown Initiative’s plea for urgent and decisive measures to address the unprecedented combination of crises confronting the world.
The event will be conducted in person, with selected sessions also available for live streaming online. UNCTAD invites interested partners and stakeholders from both the public and private sectors to express their interest in participating, sponsoring, or contributing to this significant event.
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