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    Aid for Trade - from "Urgent" to "Essential"

     

     
     
    International Trade Forum - Issue 2/2009

    Photo courtesy of WTO/Jay Louvion and Annette Walls Pascal Lamy leads proceedings at the launch of the Global Trade Liquidity Program

    "The crisis has a human face," Pascal Lamy, Director General of WTO told participants attending the Second Global Review of Aid for Trade. "Poverty alleviation targets, whether as part of the MDGs (Millennium Development Goals) or otherwise, have become more challenging to achieve due to, among other things, the decline in export demand for goods.

    "The global trading environment has worsened dramatically since our first review," he told the gathering of experts from the public and private sectors, heads of international organizations, donor and beneficiary countries. Global trade growth of 6 per cent in 2007 has been replaced by a projected 10 per cent contraction in 2009. It is one of the biggest challenges that the multilateral trading system has faced since its inception.

    "If Aid for Trade was urgent in 2007, it is essential today. It is the investment that will allow many developing countries prepare to exit the crisis by enhancing their trade capacity."

    For more information seewww.wto.org