initiative can identify binding policy bottlenecks, while MDB investment-promotion practices can help sequence reforms that crowd in private capital and stimulate local ecosystems.69 Regional rulebooks and digital trade For firms to scale across borders, regional digital trade rulebooks must become operational. Fully realizing these benefits requires collaboration between companies, governments and MDBs to translate new rules into investment. The World Economic Forum’s Friends of the African Continental Free Trade Area (AfCFTA) initiative mobilizes businesses, governments and development institutions to advance AfCFTA implementation and unlock Africa’s $3.4 trillion trade potential by closing investment gaps and strengthening value chains.70 The initiative aligns public and private priorities on issues such as data flows, digital payments and cybersecurity, helping translate the Digital Trade Protocol – a regional agreement that sets common rules for digital trade and data flows – from agreement to action. In South-East Asia, the ASEAN (Association of Southeast Asian Nations) Digital Economy Framework Agreement (DEFA) aims to serve as a vehicle for deeper digital trade integration.71 Parallel progress on the ASEAN–China trade framework, including digital and green provisions, expands opportunities for harmonization.72 MDB support is vital for aligning national laws, payment and identity systems, and conformity standards, enabling micro, small and medium-sized enterprises (MSMEs) to access larger regional markets. MDBs can further operationalize this framework through results-based financing tied to adoption metrics such as the share of cross-border transactions using digital IDs or instant-payment systems. This builds on the World Bank’s trade-facilitation programme, where progress can also be benchmarked against tools like the OECD (Organisation for Economic Co-operation and Development) Trade Facilitation Index, to quantify time and cost savings. The Global Alliance for Trade Facilitation (GATF) – a PPP jointly led by the World Economic Forum, the International Chamber of Commerce and the Center for International Private Enterprise, with support from donor governments – complements these efforts through digital initiatives like ePhyto certification systems that optimize border processes and reduce compliance burdens.73,74 These examples further highlight the critical role that governments and MDBs play in driving transformative change in emerging markets. Together, they can unlock companies’ potential to advance growth and innovation, while building resilience against disruptions and mitigating the impact of persistent structural gaps. Resilient Firms and Economies 24

Resilient Firms and Economies 2025