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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.
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.
This paper provides an update on recent developments in the field of Regional Trade Agreements and the environment. Issues arising in the implementation of RTAs with environmental considerations are examined as well as experience in assessing their environmental impacts.
Efforts to document government support benefiting specific sectors or industries have paid scant attention to support given to the non-energy minerals sector. The issue of support for this sector is explored by way of a case study of Australia, a leading producer and exporter of minerals.
Since its launch in 2005, the Aid for Trade Initiative has helped improve the links between trade, economic growth and development. The Initiative has prompted donors to put trade issues at the centre of their development strategies, contributed to increased levels of both concessional and non-concessional financing and led the private sector to re-examine how it can make trade work for development and poverty reduction.
To better integrate their economies into Global Value Chains, governments need a fine-tuned understanding of their dynamics and policies, and we have made considerable progress on this front. For example, we have learned that success in international markets depends as much on the capacity to import high-quality inputs as on the capacity to export: intermediate inputs account for over 2/3 of the goods and 70% of the services we trade.
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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.
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.