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Trade Out of Poverty

  • Peter Lilley
  • Clare Short
  • Sir Menzies Campbell
  • Michael Hastings
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    Integration into the world economy has proven a powerful means for countries to promote economic growth, development, and poverty reduction, and therefore governments need to have a renewed focus on trade policy towards developing countries to help improve the lives of the world’s poorest. The world’s richest countries should open their markets unconditionally to all Least Developed and low-income countries. The EU and US and other developed countries’ Rules of Origin requirements should be aligned so that developing countries have only one set of rules to adhere to, as the existing complex rules frequently result in countries paying tariffs or being excluded by bureaucracy. Rich countries must end their export and domestic subsidies that undermine the livelihoods of millions. Tariffs between the poorest countries be reduced and customs duties replaced with other sources of revenue. There needs to be a significant increase in emphasis on infrastructure, roads, ports and administrative structures that make trade possible.

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    Article provided by World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE in its journal World Economics Journal.

    Volume (Year): 12 (2011)
    Issue (Month): 2 (April)
    Pages: 25-32

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    Handle: RePEc:wej:wldecn:466
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