Strong trade connectivity can help disaster response and recovery by ensuring that humanitarian relief goods and services get to where they are needed when disaster strikes. Trade policy measures, however, can sometimes have adverse effects. Research led by the World Bank highlights that a common complaint of the humanitarian community is that customs procedures can delay disaster response, leaving life-saving goods stuck at borders. Other measures such as standards conformity procedures, certification processes for medicines, and work permits for humanitarian professionals can slow the delivery of needed relief items. Border closures can exacerbate situations already marked by human tragedy and unlock full-scale economic crises.
This nexus between trade policy and humanitarian response was discussed at an event organized jointly by the International Federation of the Red Cross and Red Crescent Societies (IFRC), the World Bank Group and World Trade Organization at the 5th Global Review of Aid for Trade on June 30 in Geneva. Among the steps suggested to address concerns were rigorous disaster planning; better coordination between humanitarian actors, implementation of the WTO's Trade Facilitation Agreement and better recognition of the role of services.
Information and Communication Technologies
Digital entrepreneurs have the potential to connect to global markets like never before. Whether selling physical goods on internet platforms, or providing digital goods and services that can be downloaded and streamed, an entirely new ecosystem of innovative micro and small businesses has emerged in the developing world.
The World Bank Group hosted some of the pioneers in this space for a full-day conference on Harnessing Digital Trade for Competitiveness and Development on May 19. Here, we heard entrepreneurial success stories—an online platform for jewelry in Kenya, a provider of software solutions in Nepal, an online platform for livestock trade in Serbia—and dove into the constraints and challenges of running a digital business in an emerging economy.
The scope of these challenges made these success stories, and the broader potential they represent, even more inspiring. From internet connectivity to logistics, from financial payments to trade regulations, from bankruptcy laws to entrepreneurial and consumer digital literacy-- clearly, more needs to be done to fully harness the potential of digital trade for competitiveness and development and to foster an enabling environment to digital trade.
When we think of eradicating extreme poverty, most of us associate this idea with the provision of basic needs. Food. Water. Shelter. Some argue to include clean air, security, even access to basic healthcare and primary education. But what about access to the internet? Where does the internet fit into development?
This is one of the overarching questions put to the authors of the upcoming 2016 World Development Report: Internet for Development. It was also the topic of a recent roundtable discussion entitled Digital Trade: Benefits and Impediments here at the World Bank Group, where economists and development professionals, including representatives from the public and private sectors, sat down to discuss some of these issues in detail.
The conversation hinged on what the internet meant for trade, especially for online entrepreneurs in developing countries. The internet, in many ways, signifies innovation. How then can we ensure that individuals seeking to introduce their ideas to the world and tap into the global marketplace can best do so? Is this a question of infrastructure? Is it a question of regulation?
Here’s what the numbers tell us.
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.
Here at the World Bank we put great effort into facilitating South-South exchanges. But the truth is that developing tangible results and sustainable partnerships are still tremendous challenges. That’s why when a genuine, substantive example of South-South cooperation comes along—as is the case with the new Lesotho Trade Portal (LTP)—this effort should rightly be praised.
The LTP—billed as “the first trade portal in Africa”—was developed through a bilateral agreement between the Kingdom of Lesotho and the government of Lao People’s Democratic Republic, with the assistance of the World Bank Group. The LTP is a single, online source for all trade-related laws, regulations, and procedures for importing and exporting. It was officially launched on March 26, 2014, immediately establishing a new standard in Africa for communication with traders.
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.
- Brunei Darussalam
- New Zealand
- United States
- East Asia and Pacific
- Europe and Central Asia
- Latin America & Caribbean
- The World Region
- Global Economy
- Information and Communication Technologies
- Law and Regulation
- TTIP. Trans-Pacific Partnership
- Agricultural Subsidies
- Free Trade
Concerns 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.
Consider an image: hubs and spokes sprawling across a map. At the Bank, we work in many fields that could be portrayed this way – finance, trade, transportation, infrastructure or urban and regional development. The position of a country, a city or a bank in its network is vital to explaining its individual economic performance. The property of the network as a whole is also important to understanding the resilience of the system and its parts to shocks or contagion effects.
In May, the Bank’s Trade Department and the IMF’s research department brought together, for the first time, a group of experts on various types of networks. The objective was to find out what the "science of networks" can tell us about the practice of international and development economics. The group included network planners from the private sectors, regulators, economists and physicists.
Animation schools in Cambodia are using the power of international trade to reach the poor. In recent years, a number of institutions have emerged to train young Khmers how to draw the characters used in advertisements, cartoons and films. One of the institutes is run by a French school whose graduates have worked on blockbusters such as the Harry Potter, Shrek and Batman movies. These schools are tapping into a multi-billion-dollar global industry and demonstrating Cambodia’s potential to engage in high-tech services trade. They also confirm that small firms and even community-led projects in LDCs can participate in trade in services, while helping children rise out of poverty.