IIT May Newsletter

A message from the Director

Welcome to our latest newsletter.

We continue to explore various dimensions of the increasingly important trade-sustainability interface. Have a look at our refreshed web pages that capture what we’re doing, and future plans. 

Recently we established our Jean Monnet Centre of Excellence in Trade and Environment and are busy developing plans for the next 3 years. We’re building out our values-based trade programme, and in this edition the programme lead, Visiting Professor Andreas Freytag, reflects on where due diligence legislation is headed and what that means for future governance of markets. Senior Lecturer Simon Lacey recently attended the Villars Institute conference on Global Trade for a Sustainable Future in Switzerland, where he presented a paper on digital innovation, technology, and trade.

Please don’t forget about the World Trade Organization. It remains the central pillar of the global trading system, and an important debate over how to reform the institution is unfolding in Geneva. Ideas are needed, so towards this end I contributed to the India-led Think20 process. In the Think20 Policy Brief led by the Jaipur-based Consumer Unity and Trust Society we reflect on whether it is possible to achieve consensus on the meanings of ‘development’ in relation to the WTO’s role.

The Institute remains committed to exploring trade and development linkages, and towards this end we recently hosted a visiting delegation from the Cambodian Ministry of Economy and Finance for a capacity-building course exploring the linkages between Public Finance Management Reform and international trade – an interesting, and crucial, topic.

We have a series of reports and activities lined up, so there will be more to come over the next few weeks. Meanwhile, enjoy this read.

Professor Peter Draper

POLICY & ENGAGEMENT

Jean Monnet Centre of Excellence in Trade & Environment

Funded by the EU’s Erasmus Plus programme, the Jean Monnet Centre of Excellence in Trade and Environment will work across the University, including its Environment Institute and Institute for Sustainability and Resources, to catalyse research into linkages between international trade and the environment. The COE will also emphasise stakeholder and community engagement to raise awareness of these linkages. 

Markets are moral by default – what about governments?

The German law on corporate due diligence in supply chains, also known as the Sustainable Supply Chain Law, has now been in force for four months. Similar laws in other countries have a longer history. Overall, efforts by Western lawmakers to regulate domestic companies and encourage, if not require, compliance with human rights, labour, and environmental standards along their entire value chain are picking up steam. 

Andreas Freytag, Professor and Chair of Economic Policy, Friedrich Schiller University, Jena, and Visiting Professor with IIT

Establishing a Consensus on Development: On G20-Led WTO Reforms

While the World Trade Organization has dropped off international radar screens in recent months, it remains vital to the future of the global trading system. However, it’s main function — concluding international trade negotiations —is struggling to deliver meaningful outcomes. One reason it is struggling is the gulf in expectations over what the organization’s role in delivering ‘development’ is. As its members contemplate reforms to the organization, a key question is whether it is possible to achieve consensus on this important issue. IIT’s Executive Director contributed to a recent Think 20 Policy Brief on this topic.

EVENTS 

Digital Innovation, Technology, and Trade in Villars

In March, Simon Lacey participated in and presented at a conference organized by the Remaking the Global Trading System for a Sustainable Future Project on Digital Innovation, Technology, and Trade in Villars, Switzerland, which took place in conjunction with the Villars Institute Summit 2023.

Ministry of Economy and Finance, Kingdom of Cambodia

We recently hosted the General Secretariat, Steering Committee of Public Financial Management Reform (PFMR), Ministry of Economy and Finance, Kingdom of Cambodia for 2 days of training in Adelaide. The Royal Government of Cambodia is exploring the linkages between envisaged PFMR and international trade, the latter being a key development instrument as the country nears graduation from least-developed country status. IIT’s Associate Professor Shandre Thangavelu delivered the workshop and accompanied the group to Melbourne for the final stage of their training.

STUDY WITH US

The Master of Business Administration (International Trade and Development) can give you a significant career edge at the earliest possible opportunity, together with deep knowledge in International Trade and Development.

The MBA (ITD) equips you with highly advanced strategic thinking, a firm grasp of the principles of adaptive leadership, outstanding management capabilities in critical business functions and extensive professional networks, including through industry mentors. You’ll also develop valuable research skills, and have the opportunity to undertake exchanges at world-leading international business schools.