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The Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union, if successfully concluded, would be the most significant bilateral Free Trade Agreement (FTA) to date, covering approximately 50% of global output, almost 30% of world merchandise trade (including intra-EU trade, but excluding services trade) and 20% of global foreign direct investment.
New OECD trade data, first released in January 2013 and updated in late-May, traces the value added by each industry and each country as goods and services cross borders. The analysis offers a more complete picture of commercial relations between nations and a clearer interpretation of the changing face of global trade than more conventional indicators. Further information is available here.
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.
New trade data measured in value-added terms shows that services – such as logistics, design, and transportation - are far more important to global commerce than they appear in traditional calculations of exports and imports.
A wide range of stakeholders examined the progress made on measuring trade in value added terms and to extract and clarify the emerging policy implications that can be employed to stimulate strong, balanced and job-rich growth.
Global Value Chains (GVCs) have exploded in the past decade and refer to the international dispersion of design, production, assembly, marketing and distribution of services, activities, and products. Different stages in the production process are increasingly located across different economies, and intermediate inputs like parts and components are produced in one country and then exported to other countries for further production
The costs of putting in place and maintaining trade facilitation measures are not particularly large and are far smaller than the benefits gained from implementing these measures, according to this study. Moreover, an increasing amount of technical and financial assistance to implement these measures has been made available to developing countries over the last decade.
The emergence of global value chains in manufacturing and services has revolutionised the way the world trades. It has also provided a valuable entry point for many developing economies into the global economy. Thanks to the combined efforts of the WTO and OECD, we now have a strong data-based understanding of these impacts, which will be vital to the design of effective trade policies.
The potential multilateralisation of government procurement commitments in regional trade agreements (RTAs) presents many issues and challenges. To what extent do RTAs go beyond the 2012 revised Agreement on Government Procurement (GPA), and how do they differ among trading partners? This report surveys 47 RTAs in force with government procurement provisions where an OECD member is a party.
The costs to implement and maintain trade facilitation measures are not large and far smaller than the benefits gained from implementing these measures, according to this study. Moreover, an increasing amount of technical and financial assistance to implement these measures has been made available to developing countries over the last decade.