Trade and sustainable development in the Global South: the role of special and differential treatment in achieving SDGs

In the context of the Global South, a rule-based trading system is vital for sustainable development. Such a system can provide a framework that balances economic growth with environmental and social concerns. Global trade, characterised by the exchange of goods and services across international borders, can significantly reduce poverty, create jobs, and promote economic growth. However, its potential can only be fully realised when trade practices are fair and equitable, and do not sacrifice environmental integrity or social well-being. The issue is further complicated by the fact that developing countries cannot pursue the potential benefits that trade liberalisation offers because of existing inequalities in the global trading system. To benefit from trade, developing countries, and more particularly their impoverished citizens, need access to the global market. However, the current trading regime is dominated by systems that continue to reinforce inequities and further broaden the gap between the richest and poorest nations. Addressing the concerns of the Global South, ensuring fair participation in international negotiations, and balancing environmental protections with trade regulations are crucial for a sustainable and equitable global trading system. The challenge lies in crafting policies and frameworks that recognise and accommodate the diverse needs and capacities of all nations, especially those in the Global South, in the pursuit of sustainable development