Over the past decades, companies have been organising their chains of production globally, looking at the comparative advantage of various production locations. It has brought more prosperity throughout the globe, including by bringing more people out of poverty than any other efforts. However, in recent years, talks of an ongoing de-globalisation have become more audible, supported by protectionism, trade wars but also the necessity to better take into account the fight against climate change and social consequences such as an increase in inequality. What will the impact of the COVID crisis be on the way we trade and invest, i.e. on the Global Value Chains (GVCs) as we call them?
After we saw shortages in Personal Protective Equipment (as China, the main producer, was hit first by the Coronavirus), national authorities in various countries have started discussing increasing domestic production and revisiting GVCs to provide more resilience. On the other hand, G20 Trade Ministers have recalled that trade will be part of the recovery, and have called for all restrictive measures to be limited in time and proportionate. How will free trade and resilience be reconciled in the post COVID world?
What are the opportunities for Russia, and what are the conditions to seize them? What are the potential impacts on EU-Russian trade and investment relations?
Laurent Bardon, Head of the Trade and Economic Section, EU Delegation to Russia
Moderator: Prof. Dr. Tom Van Woensel, Professor in Eindhoven and Antwerp, Director European Supply Chain Forum
The event will take place on 23 June, 15.30 (Moscow time)