'Aid for Trade' starts in Geneva
WTO Director General Pascal Lamy and IDB President Luis Alberto Moreno
Trade integration is a key determinant for long-run growth and poverty reduction for all countries in the region, said IDB President Luis Alberto Moreno during the opening session of the global review for Aid for Trade (AFT) being held on November 20 and 21 in Geneva, Switzerland.
The aim of the AFT Initiative, launched in December 2005 at the WTO Ministerial Conference in Hong Kong, is to help developing countries build the supply-side capacity and infrastructure they need to take advantage of trade liberalization and enhance their participation in the world trading system.
"The challenge is to build the capacity and infrastructure that countries need to take advantage of, and connect to, today's dynamic global economy," said Moreno. "Succeeding in today's integrated global economy requires systemic competitiveness, coherent policies and broad public support."
During this week's event, "Mobilizing Aid for Trade: A Global Review," participants will discuss the results of three regional conferences held this year under the AFT initiative. The first regional conference, held in mid September in Lima, Perú, focused on Latin America and the Caribbean and was led by the Inter-American Development Bank. The other two, in late September and in October, focused on Asia and Africa and were led by the Asian Development Bank and African Development Bank, respectively.
According to President Moreno, the event in Lima was a unique opportunity that forthe first time brought together trade and finance ministers, bilateral donors, regional and multilateral agencies and private sector representatives to discuss how to build the capacity and infrastructure that Latin America and the Caribbean countries need to take advantage and connect to today's dynamic global economy. The meeting helped shift the focus of the aid-for-trade initiative from policy debate to implementation.
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