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At the height of the crisis, the G20 committed to act collectively to fight against protectionist measures, and to address innovative issues not directly part of the international trade negotiations. Upon the request of the G20, the OECD has been working in the following areas:

 

FIGHTING PROTECTIONISM


In November 2008, G20 Leaders committed to keeping markets open and to refraining from "raising new barriers to investment or to trade in goods or services, imposing new export restrictions, or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports" (Declaration of the Summit on Financial Markets and the World Economy, 15 November 2008). This "standstill agreement" was extended by G20 Leaders from 2013 to 2014, at the Los Cabos Summit, June 2012.

The OECD has been working on regular monitoring of G20 trade and investment measures, checking the overall compliance with the standstill agreement.  The OECD has been working with the UNCTAD on the investment side of the monitoring exercise and is contributing to the section on trade with the co-operation of the WTO. The most recent report was published in June 2014.


TRADE LIBERALISATION

The OECD has been pursuing work in this area through the International Collaborative Initiative on Trade and Employment (ICITE). Launched in May 2010, and coordinated by the OECD, ICITE is a joint undertaking of 10 leading international organisations requested by G20 Leaders to take a fresh look at the relationship between trade and jobs. The OECD coordinated the preparation of a report Seizing the Benefits of Trade for Employment and Growth delivered to G20 Leaders at the Seoul summit, November 2010.

The ICITE work on trade and jobs highlights the benefits of opening markets and implementing complementary policies for employment as well as income. An e-publication on Policy Priorities for International Trade and Jobs (May 2012) presents highlights from the first two years of work.


EXPORT CREDITS

The OECD is providing a forum to exchange information among the participating governments (including several G20 countries) and institutions on implementing the G20 trade finance initiative as well as on developments in official export credits for capital goods and large infrastructure projects. The OECD is tracking flows of trade finance supplied by the largest export-credit agencies.


 

MEASURING TRADE IN VALUE-ADDED TERMS

At Los Cabos in 2012, G20 Leaders asked the OECD, together with the WTO and UNCTAD, to prepare a report analysing the functioning of global value chains and their relationship with trade and investment flows, development and jobs. In response to this call, the OECD accelerated its work on the trade in value-added database (TiVA), and together with the WTO, launched the preliminary version of the database Measuring Trade in Value Added.


OECD CONTRIBUTIONS TO G20