Download here WEDF 2012 Conference Report (PDF)
World Export Development Forum 2012
The 13th World Export Development Forum (WEDF) provided important insights into the current and, more importantly, future role of emerging markets in global trade. Despite their resilience and relatively stable growth, many developing countries have seen declines in exports to traditional markets in the developed world since the global economic crisis of 2008. In order to counterbalance this trend, many developing countries have begun to diversify their exports towards other developing countries and emerging markets.
South-South trade is thus no longer an aspiration, but a reality for many emerging countries. To maintain their growth trends, all developing countries and least developed countries (LDCs) need to do the same. However, the sustainable growth of South-South trade will require investments in new capabilities, trade facilitation measures, infrastructure and innovative solutions in trade finance.
The following are the main conclusions of the discussions and deliberations that took place in Jakarta, Indonesia from 15 to 17 October 2012:
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Countries today are trading not only in goods, but also increasingly in tasks – and this is only possible if they have the services to facilitate movements across borders quickly and efficiently. With this new model there are greater opportunities for small and medium-sized enterprises (SMEs) to join global supply chains: while they may not be able to export directly, they can feed into the supply chains of larger companies.
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While the notion of value chains is not new, value chains are shifting fundamentally in the light of changing consumer behaviour and preferences as the middle class balloons in emerging economies. The new demand for higher value- added products creates opportunities for even small nations to gain market access and benefit – so long as they are able to find niche sectors in which they can be competitive and where their companies can scale up.
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Trade is a necessary, though obviously not sufficient, condition of food security. It is indispensable in terms of the accessibility and affordability of food: the more obstacles to trade there are, the more difficult it is to make affordable food available to all.
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Technological innovations in infrastructure services are important drivers for economic and social development.
Linking growth markets in Asia, Africa and Latin America will not only help to diversify the global trading system and bring
new economic opportunities, it will also help to reduce poverty and inequalities across the world. ITC remains at the forefront of providing actionable information that increases the transparency of market regulations and trade flows which is vital for exporters to take advantage of opportunities in non-traditional markets.