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Europe and Central Asia

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. 

Notes From the Field: Opening the Balkans to Services Trade

Julia Oliver'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.

Borko Handjiski. Source: World Bank.

The interview below was conducted with Borko Handjiski, a senior economist in the World Bank’s Poverty Reduction and Economic Management (PREM) network. Until his recent move to the Africa region office, Mr. Handjiski was the regional trade coordinator for the Europe and Central Asia region. He spoke with us about efforts to liberalize trade in services in the Balkan countries, a subject he and Lazar Sestovic wrote about in a 2011 study, “Barriers to Trade in Services in the CEFTA Region.” In the interview, which has been edited for clarity, Mr. Handjiski explains how the World Bank is helping the Balkan countries better understand the benefits of liberalizing services trade and work with stakeholders in formalizing a regional trade agreement.

Welcome to The Trade Post

Mona Haddad's picture

A trading post from the old west. Source: http://www.flickr.com/photos/reservatory3/Welcome to The Trade Post, the World Bank’s new blog on international trade. Here, our trade experts will share their research, observations and questions. We will post when a new, interesting trade study is published or when a solution to one country’s trade policy issue might be applicable to others. We will discuss data, trends and complex ideas. But, above all, our goal is to make our work accessible and understandable, and we hope to engage a wide audience.

Some of our past blogging – originally published elsewhere in the World Bank– can be found here in our archive. We have remarked on the ways extreme flooding in Thailand exposed the vulnerability of supply chains, pointed out political hurdles to infrastructure planning in Africa, and described Indonesia’s efforts to make its main port more efficient. We believe that, while some of the issues we address are technical, we find them fascinating and we should be able to explain them to any layperson willing to listen.

Exporting is Easy; the Challenge is Making it Sustainable

Catalyst factory in Macedonia. Source: Johnson Matthey Inc.In 2009, an EU-based chemical manufacturer opened a plant inside one of FYR Macedonia’s recently-established special economic zones. The plant began production of catalysts, a type of emissions-control component used in automobiles. Two years later, this investment drove chemical products to the third-highest spot on Macedonia’s export list, lessening the country’s reliance on metals and textiles.

In Nicaragua, low labor costs and high security compared to its neighbors have led zonas francas to expand dramatically, attracting producers of electronic wires and medical devices and expanding the country’s exports beyond an already-strong apparel sector. Between 2006 and 2008, for example, ignition wiring sets for vehicles were the country’s fourth biggest export.

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