Abstract
<jats:p>Global Value Chains (GVCs) emerged as a defining feature of international trade following the liberalization of global markets and the advancement of information and communication technologies in the second half of the twentieth century. Initially driven by multinational enterprises (MNEs) through strategies such as foreign direct investment, offshoring, and outsourcing, GVCs evolved into complex networks connecting suppliers, producers, and consumers across multiple geographies. However, the landscape of global trade is undergoing a significant transformation. Recent disruptions, including the global financial crisis, the COVID-19 pandemic, and rising geopolitical tensions, have exposed vulnerabilities in hyper-globalized production systems. In response, a paradigm shift toward regionalization, friend shoring, supply chain resilience, and technological innovation is reshaping GVC structures. Concurrently, digitalization has lowered barriers for small and medium-sized enterprises (SMEs), enabling them to integrate into international trade networks and assume more strategic roles.</jats:p>