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Economics, Governance, Regional Cooperation, Trade

Will 2025 be the final deadline for the ASEAN Economic Community?

Will 2025 be the final deadline for the ASEAN Economic Community?
The Association of Southeast Asian Nations (ASEAN) fell short of its target of realizing the ASEAN Economic Community (AEC) by the end of 2015, deferring 105 of its 506 measures. A successor blueprint called the AEC Blueprint 2025, which lays out the work for ASEAN economic integration in the next 10 years, was adopted at the 27th ASEAN Summit in November 2015. Read more.

Information and Communications Technology, Trade

Digital trade needs more coordination, leadership

Digital trade needs more coordination, leadership
Electronic documentation in trade has made impressive recent gains in Asia and the Pacific. Up to 38% of banks in the region report progress in digitizing their operations in 2015, and more than a third of countries had partially or fully implemented electronic customs systems by the end of last year. Read more.

Economics, Finance, Trade

How does exchange rate volatility affect value added and gross trade?

How does exchange rate volatility affect value added and gross trade?
The rise of Donald Trump has reignited the debate on the link between exchange rates and trade. The Trump administration has blamed the exchange rate policies of the People’s Republic of China (PRC), Japan, and Germany for the current account deficit in the United States (US), and the president’s Twitter posts have put many major currencies on a roller coaster ride. Now, policy makers around the globe are concerned about the negative impact of exchange rate volatility on world trade. Read more.

Trade

How trade can promote SDG goal 3: Duty-free market access for health products

How Trade Can Promote SDG Goal 3 Duty-FreeMarket Access for Health Products
Trade in health products has increased substantially over the past 2decades, and tariffs on health products have been lowered, making, for example, medicines more affordable for many.Indeed, Sustainable Development Goal (SDG) 3 calls upon countries to ensure healthy lives and to promote well-being for all ages. Yet in several developing countries, substantial tariffs still persist, inflating the prices of health products. The most direct and immediate contribution of the trade community toward achieving SDG 3 couldbe to open up trade unilaterally or to negotiate a plurilateral trade agreement, which would guarantee free market access for health products, like much-needed medicines. Read more.

Infrastructure, Trade

Why poor countries should invest first in national trade infrastructure

Why poor countries should invest first in national trade infrastructure
Low-income countries are often advised to prioritize investment in their trade infrastructure to better connect to international markets, and garner the benefits of a more open trade regime. The World Bank’s Trade Facilitation Support Program and the World Trade Organization (WTO)’s Trade Facilitation Agreement, for example, promote investment in trade infrastructure to boost development prospects by improving competitiveness and lowering trade costs. Read more.

Trade

The impact of trade on employment in the Sustainable Development Goals

The impact of trade on employment in the Sustainable Development Goals
Employment was an afterthought in the Millennium Development Goals (MDGs). It was not part of the original goals but was added in 2008, halfway through the implementation period. It is, however, a key element of the Sustainable Development Goals (SDGs). Goal 8 encourages countries to “promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.” There are eight employment-related targets and ten specific indicators (United Nations 2015). Read more.

Trade

Trading for sustainable fisheries

Trading for Sustainable Fisheries
What fish trade policy options and recommendations can be put in place to help achieve the relevant Sustainable Development Goals (SDGs) of the United Nations? We need to understand the (i) relationship between fish trade and sustainable fisheries; (ii) potential promise of and the perils in the fish trade; and (iii) main trade-related concerns in the sustainability of fisheries. Sumaila (2017) addresses these issues in detail. Read more.

Trade

Still time to reconnect trade policy and SDGs

Still time to reconnect trade policy and SDGs
In 2002, “trade for development” was a core topic of the Millennium Development Goals. Fifteen years later, trade is at the periphery of the Sustainable Development Goals (SDGs). Three main reasons explain this rapid decline. First, trade negotiators did their best to obscure the Doha Round and bilateral trade negotiations in byzantine and sterile debates. Second, business stopped to pay attention to trade policy because firms turned to a form of liberalization tailor-made for their own global value chains: they traded tariff cuts of interest to them in exchange of investments in the opening countries. Read more.

Trade

Exploring the trade–urbanization nexus in developing economies: evidence and implications

Exploring the Trade–Urbanization Nexus in Developing Economies: Evidence and Implications
Modern humans have been increasingly concentrated in cities. The United Nations forecasts that 60% of the world’s population will live in urban areas by 2030. Regional multilateral institutions such as the Development Bank of Latin America and the Asian Development Bank have stepped up their efforts to support the urban sector and to collaborate on comparative studies of urbanization. Read more.

Trade

What can we learn from the trade and growth nexus in the Republic of Korea?

What can we learn from the trade and growth nexus in the Republic of Korea
Since trade started being emphasized as a locomotive of growth, export promotion trade policies have become a popular option for countries in search of higher economic growth rates. East Asian countries in particular have witnessed a distinct success in terms of rapid economic growth after the adoption of outward-looking trade policies. Read more.