Trade is experiencing an unprecedented contraction due to COVID-19 and the prospects for a quick recovery depend on the duration of the pandemic and effective policy responses. The United Nations Conference on Trade and Development (UNCTAD) predicts that global foreign direct investment could be cut up to 40 percent during 2020-2021, which will have major implications for global value chains. Further, COVID 19-related trade measures have been implemented by many countries, especially for food and medical supplies exports, affecting supply chains and food and medical supply availability.