By Lindsey Klaassen
This piece originally appeared on the U.S. Chamber of Commerce Above the Fold blog.
Developing countries tend to experience higher costs to trade and are ill-equipped to navigate through the mire of international border requirements. The World Trade Organization (WTO) established the Trade Facilitation Agreement (TFA) in part to address this very challenge.
The TFA is unique in several respects, as it was the first multilateral trade agreement set forth by the WTO, and it was intentionally designed to make cross-border trade easier for developing countries. Once fully implemented, it is estimated that the TFA will reduce trade costs by up to 15 percent for developing countries and increase global merchandise exports by up to $1 trillion annually by increasing customs efficiency and cutting red tape that impedes the efficient flow of goods at the border.
By Michael Merriam
In recent months, research on global trade has been divided over the effects of a long negotiated trade partnership for twelve Pacific Rim nations. Signed by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam, the Trans-Pacific Partnership (TPP) is, by GDP of signatory nations, the largest free trade pact in the history of the world. With many standards and provisions, the agreement’s depths contain articles that deal with a variety of subjects ranging from intellectual property rights to environmental protection. According to the Office of the U.S. Trade Representative, there will be 18,000 different taxes on American products that will be reduced or eliminated by adoption of the TPP. Beyond the benefits to the United States, the increased trade promotion and tariff reduction of the TPP promises to advance job creation, good governance, trade competitiveness, and stable economic growth on both sides of the pacific. Most significantly, the TPP incorporates greater trade facilitation requirements than past regional trade pacts, a hopeful sign for the future of global trade.
Discussion moderator Andrew Wilson (far left) with panelists Alicia Phillips Mandaville, Chris Maloney, and Beth Tritter.
This week’s podcast is a recording of an event CIPE co-hosted on September 15th with Millennium Challenge Corporation (MCC) in recognition of the International Day of Democracy. Following each of its quarterly Board of Directors meetings, MCC works with other partners to convene conversations of importance to the development community. This event provided a brief update of the recent MCC Board Meeting, and brought together thought leaders to discuss the role of democracy in development.
Sustainable development and reducing poverty are primary objectives of the United Nations’ Sustainable Development Goals (SDGs). Panelists demonstrated how the SDG goals that pertain to democratic governance are vital to reducing poverty, creating jobs, boosting economic growth, and making sure that development is sustainable. They discussed how strong democratic institutions, a robust rule of law, and inclusive economic policies that create a level playing field for everyone are essential elements of a development agenda with lasting impact. The discussion was moderated by CIPE Managing Director [then Executive Director (acting)] Andrew Wilson.
via Wikimedia Commons
This blog originally appeared in Arabic on CIPE-Arabia.org.
Indeed, Egypt is going through a very difficult period. The current economic situation is intrinsically linked to the accumulated weight of poorly addressed economic challenges over the past forty years. Economic problems were either ignored, or in other instances, their root causes were not addressed in a profound and decisive manner. On the other hand, undoubtedly, Egypt has all the capabilities to become one of the largest world economies. This potential has been noted in reports of financial institutions such as the 2010 Citibank report.
The current difficulty stems from fact that there is no alternative to undertaking a comprehensive economic reform program. However, in the short run all Egyptians- the wealthy, the poor, and the middle class, will have to bear the brunt of these reforms. That said, with sound management of reform program, Egyptians will enjoy the fruits of reform in the medium to long run.
There can be no doubt that enacting economic reforms is crucial for Egypt’s progress. Thus, “No,” is my final unequivocal answer to the most critical question of whether Egypt has other alternatives to entering into the loan agreement with the International Monetary Fund (IMF).
Podcast guest Jenny Anderson (center) with hosts Julie Johnson and Ken Jaques
On the Democracy that Delivers podcast this week, CIPE Program Officer for South Asia Jennifer Anderson talks about the economy in Pakistan and holding the government accountable for delivering on its economic promises. Anderson discusses the crucial link between successful implementation of economic reforms and citizen support for the civilian government and democracy. She shares the view expressed by some in Pakistan that “entrepreneurship is dead” and why a number of aspiring Pakistani business people feel this way. Anderson also discusses the new registration process required for international and domestic NGOs to operate in the country. The show closes with Anderson sharing her story of how helping a friend cope with the tragedy of the Rwandan genocide changed her world view and got her started on her international development career.
Follow her on Twitter @JennyLAnderson_
From Left: CIPE Chair Greg Lebedev, with discussion moderator Andrew Wilson, and speakers Alicia Phillips Mandaville, Chris Maloney, and Beth Tritter at the Democracy and Governance event on September 15, 2016.
Democratic governance and development go hand in hand. Transparency and the rule of law provided by well-functioning democracies create favorable business environments where firms of all sectors and sizes can thrive. In turn, inclusive economic growth lifts populations out of poverty and strengthens public expectations of accountability. To celebrate the International Day of Democracy, CIPE and the Millennium Challenge Corporation (MCC) held a joint event on September 15, titled “Democracy and Governance: Key Foundations to Sustainable Development.”
Syrian Economic Forum (SEF) Executive Director Tamman Al Baroudi (left) and SEF Chairman Ayman Tabbaa (right) with podcast co-host Stephen Rosenlund, Senior Program Officer for Middle East and North Africa at CIPE. Tabbaa, Baroudi and Rosenlund called in to the show (via Skype) from Gaziantep, Turkey.
Syrian Economic Forum Chairman Ayman Tabbaa and Executive Director Tamman Al Baroudi discuss the current situation in Syria and the role of the private sector in reconstructing the country. Tabbaa and Baroudi talk about their lives in Syria prior to the revolution, why they had to leave Syria, and their work today providing information and policy options to help with the current economic situation and to plan for the future.
Tabbaa and Baroudi speak candidly about how their lives have changed, dangers they have faced in pursuing their work to help build a future for Syria, and their concerns for Syria’s youth.
The Syrian Economic Forum is an independent think tank that gives voice to the pro-democracy Syrian business community.
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