The International Organization for Standardization (ISO) and the World Bank Group announced today the signing of a memorandum of understanding to help increase countries’ awareness and involvement in the development, adoption and use of international standards that promote open, fair and transparent trade.

The MoU serves as the foundation for future cooperation in the areas of knowledge generation and dissemination; encouraging research and promoting awareness; improving monitoring and evaluation; and enhancing capacity around international standards that give countries the opportunity to participate in global trade and that contribute to economic development, social progress and protection of the environment.

“This signing is an important first step in working towards shared objectives supporting sustainable economic development, as well as fair and transparent trade,” said Kevin McKinley, Acting Secretary-General of ISO. “Working with the World Bank Group is a unique opportunity to help developing countries strengthen their national quality infrastructures to better integrate with regional and global markets. This partnership with the World Bank will also support our collective efforts to achieve the United Nations Sustainable Development Goals.”

“This signing underscores the World Bank Group’s commitment to support the integration of developing countries in the global economy,” said Anabel Gonzalez, Senior Director, Trade & Competitiveness Global Practice, World Bank Group. “International standards play a crucial role in helping countries increase productivity, access international markets and maximize the benefits of joining value chains. We have an important role to play in strengthening the capabilities of developing countries and their firms to participate in the development of international standards, as well as in complying with those standards.  This alone can contribute to addressing the challenges of ending extreme poverty and boosting shared prosperity.”