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Prepared for the 2013 G20 Summit in Saint Petersburg, this joint OECD-WTO-UNCTAD report analyses the functioning of global value chains and their relationship with trade and investment flows, development and jobs.
Global value chains (GVCs) have become a dominant feature of world trade and investment, offering new prospects for growth, development and jobs, according to a new joint report by the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO) and the United Nations Conference on Trade and Development (UNCTAD).
The Trade in Value Added initiative accounts for the double counting implicit in gross flows of trade, and measures flows related to value added in production of goods or services
Trade and investment are a key source of growth and an area where the G20 can be credited with important achievements, such as the standstill and the rejection of protectionism. Further trade liberalisation can be a powerful, timely, non-debt stimulus to the world economy, said OECD Secretary-General.
Merchandise trade growth increased in the major economies during the first quarter of 2013. Compared to the fourth quarter of 2012, the value of merchandise imports and exports for the total of G7 and BRICS countries increased by 1.3% and 2.8%, respectively.
This OECD inventory reports export taxes, prohibitions, licensing requirements and other measures by which governments regulate the export of agricultural and industrial raw materials.
OECD research shows that multilateral agreement to cut red tape in international trade would dramatically reduce trading costs and add a substantial boost to the global economy.
Governments intervene in non-renewable natural resources sectors more than in many others, including through the use of export taxes and quotas. This paper aims to increase understanding of the economic effects of export restrictions, in particular as they apply to the mining sector.
We have come a long way since 2005, when we launched the Aid for Trade initiative in Hong Kong at the 6th WTO Ministerial Conference. Each successive global review has deepened our analysis and broadened our understanding of the dynamics of aid, trade, development and their interaction. In parallel, more and more partner countries and donors have come on board as the tangible results of our efforts become apparent.
Aid for Trade is helping developing countries reduce trade costs, improve competitiveness and plug into the regional and global value chains that are increasingly important to the world economy, but much more can be done, according to a new joint report from OECD and the WTO.