The global bioeconomy, a key driver of the Fifth Industrial Revolution, promises significant advancements towards the UN Sustainable Development Goals (SDGs). Success, however, depends on addressing complex trade challenges, including regulatory inconsistencies and market access barriers. Innovations in biotechnology, such as enzymatic biopolymers and New Genomic Techniques (NGTs), highlight the need for structured multilateral dialogue. Collaboration is essential to promote equitable access to technology and ensure safe, sustainable bio-based trade. Existing international trade considerations, such as precautionary principles and sustainability criteria, shape the bioeconomy’s trajectory. Hence, strengthened framework across international organizations, such as the World Trade Organization (WTO), could help integrate bioeconomy into trade policies, balancing growth with environmental and health safeguards. Projected to grow from USD four trillion to USD thirty trillion in the coming decades, industrial biotrade could transform industries by replacing fossil-based resources with sustainable alternatives. Yet, without cohesive governance and harmonized regulations, geopolitical tensions and regulatory conflicts may hinder this shift. This article provides twelve recommendations to address trade-related challenges, advocating for a policy ecosystem that fosters a resilient bioeconomy aligned with climate goals, biodiversity preservation, and fair competition with fossil industries. Finally, it calls for the recognition of the bioeconomy by the UN Framework Convention on Climate Change (UNFCCC) as a contributor to the UN SDGs.
Global Trade and Customs Journal