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Aid for Trade
Aid for Trade is an initiative by the World Trade Organization (WTO), as well as a policy concept in international economic and trade development, concerned with helping developing countries and particularly the least developed countries build trade capacity and infrastructure.
Aid for Trade is included in Sustainable Development Goal 8 concerning "decent work and economic growth", which is one of the 17 Sustainable Development Goals which were established by the United Nations General Assembly in 2015. Target 8.a aims to "Increase Aid for Trade support for developing countries, in particular, least developed countries, including through the Enhanced Integrated Framework for Trade-related Technical Assistance to Least Developed Countries."
In 2018, aid for trade commitments remained stable, at $58 billion, based on current prices. South and Central Asia received the highest share thereof (31.4 per cent), followed by sub-Saharan Africa (29.2 per cent). Lower-middle-income countries received 37.5 per cent of aid for trade, followed by least developed countries (36.8 per cent).
Aid for Trade includes measures to help countries develop trade strategies, plans or projects and implementation, such as building roads, ports, and telecommunications that link domestic and global markets, or investing in industries and sectors to help diversify exports.
Many have credited Aid for Trade with economic improvements in developing countries, while others point out that not all trade initiatives are successful and some of the funding is lost to corruption.
The OECD and WTO established an 'aid-for-trade monitoring framework' to track progress in implementing the Aid-for-Trade Initiative. It consists of the following elements:
According to the UN, in 2017, the global total value of Aid for Trade disbursements exceeded US$43 billion, with an additional c. US$15 billion committed. Increasing Aid for Trade support is included as an objective in the United Nations Sustainable development goal 8 "decent work and economic growth" indicator 8.a.
The EU and its member states are the largest contributor of Aid for Trade.
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Aid for Trade
Aid for Trade is an initiative by the World Trade Organization (WTO), as well as a policy concept in international economic and trade development, concerned with helping developing countries and particularly the least developed countries build trade capacity and infrastructure.
Aid for Trade is included in Sustainable Development Goal 8 concerning "decent work and economic growth", which is one of the 17 Sustainable Development Goals which were established by the United Nations General Assembly in 2015. Target 8.a aims to "Increase Aid for Trade support for developing countries, in particular, least developed countries, including through the Enhanced Integrated Framework for Trade-related Technical Assistance to Least Developed Countries."
In 2018, aid for trade commitments remained stable, at $58 billion, based on current prices. South and Central Asia received the highest share thereof (31.4 per cent), followed by sub-Saharan Africa (29.2 per cent). Lower-middle-income countries received 37.5 per cent of aid for trade, followed by least developed countries (36.8 per cent).
Aid for Trade includes measures to help countries develop trade strategies, plans or projects and implementation, such as building roads, ports, and telecommunications that link domestic and global markets, or investing in industries and sectors to help diversify exports.
Many have credited Aid for Trade with economic improvements in developing countries, while others point out that not all trade initiatives are successful and some of the funding is lost to corruption.
The OECD and WTO established an 'aid-for-trade monitoring framework' to track progress in implementing the Aid-for-Trade Initiative. It consists of the following elements:
According to the UN, in 2017, the global total value of Aid for Trade disbursements exceeded US$43 billion, with an additional c. US$15 billion committed. Increasing Aid for Trade support is included as an objective in the United Nations Sustainable development goal 8 "decent work and economic growth" indicator 8.a.
The EU and its member states are the largest contributor of Aid for Trade.