Skip to main content

How to Make Trade Easier

A new WTO Trade Facilitation Agreement would benefit all by increasing developing countries’ capacity to trade, strengthening the WTO’s development mandate, and boosting global economic growth. Indeed, such an agreement could be a down payment on WTO members' commitment to linking trade and development.

WASHINGTON, DC – The world is now in the fourth year of the Great Recession. So far, the economies belonging to the World Trade Organization have resisted the kind of widespread protectionism that would make a bad situation much worse. But protectionist pressures are building as weary politicians hear more and more calls for economic nationalism.

The WTO’s best defense of open trade is a good offense. A new WTO Trade Facilitation Agreement would benefit all by increasing developing countries’ capacity to trade, strengthening the WTO’s development mandate, and boosting global economic growth. More than a decade after the launch of the Doha Round of global free-trade talks, this agreement could be a down payment on the commitment that WTO members have made to linking trade and development.

Developing countries stand to gain the most from improving trade facilitation. The right support would help traders in poorer countries to compete and integrate into global supply chains.

We hope you're enjoying Project Syndicate.

To continue reading, subscribe now.

Subscribe

Get unlimited access to PS premium content, including in-depth commentaries, book reviews, exclusive interviews, On Point, the Big Picture, the PS Archive, and our annual year-ahead magazine.

https://prosyn.org/XpnGMcD;
  1. haass103_GettyImages_redeastasiamapdotslines Getty Images

    Asia’s Scary Movie

    Richard N. Haass

    A snapshot of Asia would show a region at peace, with stable societies, growing economies, and robust alliances. But, if we view history as a moving picture, we may well come to look back on this moment as the time in which the most economically successful part of the world began to come apart.

  2. roubini130_GettyImages_iphonehandstealingpiggybank Getty Images

    The Great Crypto Heist

    Nouriel Roubini

    Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel.

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated cookie policy and privacy policy.