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Europe and Central Asia

How Much Cement Do I Export? And Other Weighty Questions

Amir Fouad's picture

WITS is how World Bank economists and users like you can answer tough questions on trade.For client countries of the World Bank, there is no shortage of interest in—or desire for—information on trade flows and market access. Improving trade performance is a critical component of many client countries’ development strategies, and trade data hold the key to understanding how countries are faring in the quest to eliminate trade barriers, increase competitiveness, and turn improved market access into actual trade flows.

But the trade data arena is large and complex, full of topical jargon, different nomenclatures and coding systems, availability constraints, and potentially complicated indicators. For newcomers, trade data navigation can be particularly challenging, which belies the immense value and richness in the wealth of information that has become available and accessible over the past few years.

Enter the World Integrated Trade Solution, or WITS.

EU-Turkey Customs Union: Unique, Pioneering, and Still Beneficial

Ian Gillson's picture

Source - World BankThe EU-Turkey customs union (CU) has been a key catalyst in the economic transformation of Turkey over the past two decades and an effective mechanism for deeper integration between the two parties, according to a new World Bank evaluation of the CU.

While its supporters and critics may continue to debate in the political arena, this much is now clear: the CU has brought enormous benefits to Turkey and has done more to facilitate trade than a free trade agreement (FTA) would have. But more can still be done to both modernize the agreement and deepen trade integration between the parties.

A Fragile Country Tale: Restrictions, Trade Deficits, and Aid Dependence

Massimiliano Calì's picture

 Masaru Goto, World BankPart of the World Bank’s new vision is to step up its efforts to help fragile and conflict-afflicted states break the vicious cycle of poverty. But this is no easy task.
 
The destruction of productive assets and the restrictions on the capacity to produce are among the most severe economic impacts of conflicts and fragility. These effects explain why countries in conflict or emerging out of conflict typically have very large trade deficits. The productive sector is often particularly weak by international standards, so exports are low and domestic consumption has to rely on imports. Indeed, five of the ten countries with the largest trade deficit in the world (Timor-Leste, Liberia, the Palestinian territories, Kosovo and Haiti) are considered fragile by the World Bank and other regional development banks (figure 1).
 

TPP & TTIP: More Questions Than Answers

Miles McKenna's picture

Incense stick production in Hue, Vietnam. The country could be one of the biggest winners of a potential Trans-Pacific Partnership trade agreement. Source - Austronesian Expeditions.If you follow trade negotiations, then you know there are few more contentious than those for the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP).
 
On February 4, the World Bank’s International Trade Unit hosted Phil Levy, a senior fellow on the global economy at the Chicago Council on Global Affairs, who has been following both negotiations closely. Levy spoke with World Bank staff about the potential implications for developing countries as negotiations move forward in what he calls “bargaining among behemoths.”
 
At this point in the negotiations, one thing is clear: there are still more questions than answers.

Notes From the Field: Working in the Western Balkans

Kaori Niina's picture

Belgrade, Serbia at dusk. Source - Adrien_DubuissonEditor's Note: "Notes From the Field" is an occasional feature where we let World Bank professionals conducting interesting trade-related projects around the globe explain some of the challenges and triumphs of their day-to-day work. The views expressed here are personal and should not be attributed to the World Bank. All interviews have been edited for clarity.

The interview below was conducted with Violane Konar-Leacy, an Operations Officer in the World Bank Group’s International Finance Corporation. She works for the Investment Climate group, and is based in Belgrade, Serbia. Ms. Konar-Leacy is currently managing a trade logistics project in the Western Balkans. She spoke with us about her personal connection with the region, and how she embraces the challenges of working in a politically complex environment.

Trade Regionalism in the Asia-Pacific: New Game, Old Rules?

Swarnim Wagle's picture

What's the next move in the major economies' Great Game? Source - wonderkris.Editor's Note: This blog draws on the forthcoming article “New Trade Regionalism in Asia: Looking Past the Sino-American Great Game," written by Swarnim Wagle, to be published in the Global Emerging Voices 2013 Working Papers. 
 
Negotiations over one of history’s most ambitious trade deals have taken another step towards defining the future of Trans-Pacific trade.
 
The latest round of discussions on the Trans-Pacific Partnership (TPP) wrapped up this past weekend in Salt Lake City, Utah. Negotiators are believed to have made headway on a number of thorny issues, clearing the way for ministerial talks to be held in Singapore, Dec. 7-10.   
 
The TPP will draw together 12 countries dotting the perimeter of the Pacific—Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. But it’s the United States’ efforts to spearhead the talks that have attracted the most attention. Concerns over a lack of transparency and the intrusive scope of the agreements’ provisions into national policymaking have led many to question its objective.
 

Growth in Greece? A Logistical Possibility

Daria Taglioni's picture

The Partnenon in Athesn, Greece. Source -  Nicholas Doumani.More than 95 percent of goods traded between Europe and Asia are transported via deep sea. All of this happens through two primary routes-- some serious traffic. But it's far from stop-and-go. In fact, most doesn’t stop at all.

Large container ships leave ports in Asia and proceed directly to Rotterdam, the Netherlands. Many choose to get there by passing through the Suez Canal, entering the Mediterranean, and bypassing its bygone empires.

One of these ancient powers, Greece, now finds itself in a marginal position on the logistical map of Europe. Despite being geographically and economically well located, it’s far from being the hub it once was. The World Bank’s International Trade Unit and the Transport Unit of the World Bank’s Vice Presidency for the Europe and Central Asia Region recently teamed up with the government of Greece to find out how the country can capture a share of the world’s growing East-West trade and kick-start an economy that has been struggling to maintain GDP growth after the global economic crisis.
 

Notes From the Field: World Bank Projects Undeterred by Trade Developments in Armenia

Miles McKenna's picture

About "Notes From the Field": With this occasional feature, we let World Bank professionals who are conducting interesting trade-related projects around the globe explain some of the challenges and triumphs of their day-to-day work. The views expressed here are personal and should not be attributed to the World Bank. All interviews have been edited for clarity.
Gohar Gyulumyan. Source - World Bank.

The interview below was conducted with Gohar Gyulumyan, a Senior Economist in the World Bank’s Europe and Central Asia regional division of the Poverty Reduction and Economic Management (PREM) network. Her work has been strongly centered on economic development in Armenia, where she is now based in the country office. She spoke with us about her most recent work on trade facilitation and the removal of trade barriers, including what the recent government announcement to join the Eurasian Customs Union may mean for the Bank's work in the country in the future.

Trading for a Better Climate

Harun Onder's picture

Pineapple seedlings grow in the nursery at Bomart Farms in Nsawam near Accra, Ghana. Photo - Jonathan Ernst / World BankConcerns over climate change took center stage at this year’s World Bank annual meetings. The message was clear: there doesn’t have to be a tradeoff between economic growth and a cleaner, healthier environment.

“We can make the right choice and still see robust growth,” World Bank President Jim Yong Kim said during the opening panel discussion, October 8.

With the next United Nations Framework Convention on Climate Change (UNFCCC) conference set to get underway in Warsaw in just a few weeks, Kim and International Monetary Fund Managing Director Christine Lagarde have now clearly laid out the economic case for shifting development strategy into a greener gear.

Don’t Put All Your Exports in One Basket (That Means You, Resource-Rich Country!)

Gonzalo Varela's picture

Baku, Azerbaijan. Source - flickr.com/photos/9464116@N08/7816929566/in/photolist-cUKNPG-fdSCiF-feJL8Y-feaJrS-feurU8-feuqP6-feb4rd-fdVqvc-febfvm-fdVVrX-fdVQWB-fe7YGL-fdSz12-feb68j-feJFA5-fevRZT-fdSAzV-feaNqs-fdVWBi-feJK3C-feanKW-feap55-8Sgjmp-fe5RVE-fe5vvC-fdQwrK-fdQpv4-fe5y7w-fdQtuK-fe5KvW-fe5Agf-fe5Nbm-fe5CjQ-fe5HHs-fe5Sbs-djYTYR-8F59Fq-bkr5Tf-8E86t9-8c3pDH-8c6JB5-8AjSRo-8AjSUJ-8eGwJc-aDwLd2-8AjSWj-8E86Tb-8E4VK2-8E85Mo-a4NYwC-7ZnFFRDiversification of a country’s exports – increasing both the number of products it produces and the destinations of those products – is considered part of the path to development. Many economists and policy-makers see export diversification as an important means for increasing employment and speeding growth. Diversification also makes growth more stable, as it provides protection against shocks; a country that exports many products will not be hit so hard when the price of one falls, and similarly, a nation that exports to a wide variety of destinations will be shielded against a recession in one of them.

But new evidence contributes to a body of work suggesting that countries with an abundance of natural resources might be more prone to export concentration during spurts of high natural-resource prices – mainly in products, but also to a milder extent in trading partners – leaving them more vulnerable to price swings. 

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