 RESTRICTED  
  
WT/WGTDF/M/38  
 
28 August 2020  
(20-5901) Page: 1/1 
Working Group on Trade, Debt and Finance    
 
 
REPORT OF THE MEETING OF 14 OCTOBER 2019  
1.1.  At the meeting o f 14 October 2019, chaired by Ambassador Refiloe Litjobo (Lesotho), the 
Working Group on Trade, Debt and Finance reverted to the topic of trade finance and Small and 
Medium -sized Enterprises ( SMEs ), notably in developing countries. The Secretariat reported on the 
session co -hosted by the WTO Director -General and the Chief Executive Officer of the International 
Financial Corporation (IFC) at the Aid -for-Trade Global Review. The Secretariat also mentioned the 
recent release by the Asian Development Bank of the  Global Trade Finance Gap Study 2019, which 
estimated the global trade finance gap at USD 1.5 trillion in 2018. The study confirmed the 
persistence of large trade finance gaps notably in developing countries, which reduced their trade 
opportunities. Global ly, SMEs accounted for 30% of trade finance requests, but 50% of rejections. 
The Secretariat confirmed that it would continue its work based on the 2016 Trade Finance and SMEs 
proposals by the Director -General and comments and suggestions from Members. It also mentioned 
that it examined the possibility of integrating more systematically trade finance in diagnostic trade 
integration studies (DTIS) of the Enhanced Integrated Framework. This had been done successfully 
on a one -off basis in recent DTIS of Myanm ar and Cambodia, but a more systematic approach was 
envisaged. The Secretariat committed to provide more information about this initiative once the 
draft project is ready. The Chairman proposed that the Working Group reverts to this issue and 
others relate d to trade finance at the next meeting of the Working Group on Trade, Debt and Finance.  
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