Dr. Sahar Nasr, Deputy Chair of Egypt's Senate Finance Committee, participated in the parliamentary session of the World Trade Organization's (WTO) Public Forum in Geneva. The session, organized by the Inter-Parliamentary Union (IPU) and WTO, focused on engaging parliamentarians in sustainable trade policies. Nasr represented Egypt at the event, which saw participation from national parliamentarians and experts in trade, economy, and public policy.
Nasr emphasized the importance of parliamentary involvement in early stages of negotiating and drafting economic and trade agreements. This ensures that international commitments align with national legislative frameworks, supporting effective and sustainable economic policy implementation. She highlighted that this alignment is crucial for achieving development goals and protecting the interests of developing countries.
The WTO Public Forum discussed the role of trade in services as a key driver of local and global economic growth. Nasr noted that trade in services has a significant impact on GDP, job creation, and national competitiveness. She also emphasized its potential to empower women, youth, and small and medium-sized enterprises (SMEs), which are vital components of many countries' economies.
Despite its potential, trade in services faces several challenges. Nasr stressed the need for parliamentarians to be involved in early stages of negotiation and drafting agreements to address legislative and regulatory hurdles. This involvement can facilitate smoother implementation of international commitments and ensure that national laws align with global trade policies.
Nasr also highlighted the importance of dialogue and coordination between parliamentarians, international organizations, and experts in developing trade and economic policies. This collaboration can help create policies that respond to development needs and account for the specificities of different countries, ultimately leading to more inclusive and sustainable growth.
During her speech, Nasr shared Egypt's experience in developing its banking and financial sectors, which has contributed to financial inclusion and capital market growth. She also discussed Egypt's efforts to improve its digital infrastructure, supporting the country's transition to a digital economy and expanding access to digital services.
The Egyptian participation in the WTO Public Forum reflects the country's commitment to engaging in international discussions on trade and economic policies. Nasr's involvement demonstrates the importance of parliamentary engagement in shaping global trade policies that impact national economies and development goals.
Key points
- Dr. Sahar Nasr emphasizes the importance of parliamentary involvement in early stages of negotiating and drafting economic and trade agreements.
- Trade in services is a key driver of local and global economic growth, with significant impacts on GDP, job creation, and national competitiveness.
- Egypt's experience in developing its banking and financial sectors, as well as its digital infrastructure, serves as an example of how countries can work towards more inclusive and sustainable growth.
