In contribution to: The Fourth United Nations Conference on the Least Developed Countries 2011  Istanbul, Turkey -- On 9 May 2011, the World Bank hosted a Special Event – “Aid for Trade for the LDCs: Policy Reform, Effectiveness, and the Private Sector” – on the sidelines of the UN LDC-IV Conference in Istanbul. The panel discussion, which was convened by World Bank Vice-President Otaviano Canuto (PREM), outlined key policy priorities for the LDCs with respect to trade competitiveness and aid effectiveness. As a continuation of the World Bank’s LDC-IV pre-Conference event in Geneva last December, discussions aimed to identify concrete policy measures and steps by which the Bank and other institutions can assist the LDCs to ensure progress in these areas over the next decade.
In addition to World Bank technical experts and government officials, private sector representatives contributed to the panel by lending insight as to how private sector expertise might be leveraged to better facilitate the LDC trade agenda.
Mr. Otaviano Canuto, Vice President, Poverty Reduction and Economic Management at the Bank will chaired the event, with participation of senior private sector and government officials. The decade ahead represents a unique opportunity to build on successful reforms in developing countries to expand trade and reduce poverty. This is especially true for the least developed countries (LDCs). There is also a high priority on advancing – in concrete ways -- the aid effectiveness agenda to further anchor policy reforms with respect to trade facilitation and competitiveness. With the Global Review of Aid for Trade set for July 2011 and the Cannes G20 Summit to take place in November, trade facilitation and development priorities will be at the forefront of multilateral policy discussions in the coming months. An important part of the trade and development agenda ahead is leveraging the creativity and dynamism of the private sector in new ways. As multilateral institutions, including the World Bank, and bilateral donors focus on ensuring maximized aid effectiveness – private sector expertise and operational know-how hold invaluable potential in terms of identifying priorities for reform and driving higher returns on investment in aid spending (i.e.: through increased and more accurate monitoring and evaluation programs). To this end, discussions centered on findings ways in which these different priorities might inform the trade-related aspects of a new LDC Programme of Action for the coming decade. ________________________________________
Workshop organized by the World Bank Group and the Bank’s Development Research Group’s project on Trade Costs and Facilitation, under the Multi-Donor Trust Fund for Trade, and the Global Trade and Financial Architecture project, along with other World Bank units and partner institutions. For additional information please contact John S. Wilson, Lead Economist, Development Research Group, Trade and International Integration at jswilson@worldbank.org. Last updated on Sep 13, 2011 |
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