Guest post from EU Trade Commissioner Karel De Gucht on the OECD Insights blog discussing the economic potential of a successful TTIP deal.
The African economy is undergoing diversification and becoming more integrated into the world economy. But whether the current pace of change is sufficient to achieve lasting structural transformation is another question.In order for GVCs to contribute positively to structural change, policy also needs to adapt.
By participating more effectively in the global production of goods and services, Africa can transform its economy and achieve a development breakthrough, according to the latest African Economic Outlook, released at the African Development Bank Group’s Annual Meetings.
The OECD’s new Services Trade Restrictiveness Index (STRI), released during the Organisation’s annual Ministerial Council Meeting, provides a unique and comprehensive snapshot of services trade restrictions across 18 sectors in 40 leading economies, representing over 80% of global services trade.
The objective of the International Business Dialogue 2014 is to collect input from the business community on regulatory impediments to trade and identify areas to improve international regulatory cooperation.
English, PDF, 357kb
This brand new report from the OECD examines the potential impact of the WTO Trade Facilitation Agreement concluded in Bali on trade costs.
Talks to free up more trade and investment between the European Union and the United States got under way early in 2013. A good agreement in 2014 would be a positive thing, and not just for the EU and the US.
New international rules on state financing of rail exports will boost the development of cleaner transportation infrastructure and help countries meet green growth objectives, the OECD said.
Mr Gurría said the trade facilitation agreement at the core of the new package would cut red tape and speed border crossings worldwide, offering an important boost to world trade and the global economy. "As OECD work has highlighted, the benefits of lowering costs for traders are significant, and are particularly welcome today, given the slow growth seen in so many countries," Mr Gurría said.
As the OECD's latest global economic forecast has confirmed, world trade is now growing at an extremely low rate. This brings into stark focus the need for trade negotiators at the WTO to cut a deal to bring a much-needed boost to world trade and the global economy.