Open global trade has had positive effects for African industrialization and development. This report looks at efforts to help African countries strengthen their trading capacity and take fuller advantage of the benefits that trade brings.
A growing number of governments have adopted policies aimed at promoting innovation and technological progress for their economies, a trend which has implications for trade flows and the rules that govern global commerce, according to the 2020 edition of the WTO’s World Trade Report.
The COVID-19 outbreak and its rapid spread caught many governments and agricultural producers by surprise, prompting immediate policy responses by WTO members. Many of the initial measures were expected to impact negatively on the agricultural sector.
World trade is expected to fall by between 13% and 32% in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world. The wide range of possibilities for the predicted decline is explained by the unprecedented nature of this health crisis and the uncertainty around its precise economic impact. But WTO economists believe the decline will likely exceed the trade slump brought on by the global financial crisis of 2008-09.
Global trade has contributed strongly to reducing poverty but important challenges remain in making trade work for the poorest. This publication presents eight case studies to reveal how trade can help to reduce poverty in developing countries.
The WTO is central to achieving the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs), which set targets to be achieved by 2030 in areas such as poverty reduction, health, education and the environment.