Steps to establish a global alliance of special economic zones taken at UNCTAD investment forum

October 25, 2021 UNCTAD 0 Comments

The future establishment of a global alliance of special economic zones (SEZs) was tabled this week at UNCTAD’s 7th World Investment Forum amid recognition that the zones are critical for economic development but need to adapt to keep pace with a changing climate, digital transformation and other factors influencing their viability.

Initial steps toward the founding of GASEZ (Global Alliance of Special Economic Zones) were taken today by special economic zones associations from across the globe.

The alliance will enhance global networking to facilitate trade and investment promotion, spur collective policy advocacy for SEZs, and support programmes for the exchange of best practices and modernization of the zones.

SEZs are an instrument widely used to stimulate growth, create jobs, promote exports, diversify economies, and build productive capacity.

“SEZs are faced with a myriad of challenges and opportunities arising from the triple mega-drivers: the new industrial revolution, the sustainability imperative and the realignment of global economic governance,” said James Zhan, UNCTAD investment and enterprise director.

“Mobilizing global support for SEZs and their endeavour to attract investment for sustainable development requires a concerted effort by the SEZ community. This alliance now provides this space,” he said. Read More.

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