Access to external finance has long been identified as one of the most important constraints facing firms in the developing world. While only 11.5% of firms identify access to finance as a major constraint in OECD countries, this rate is 38.3% in Sub-Saharan Africa, 35.1% in Middle East and North Africa and 26.5% in South Asia. Financial factors affect firms’ ability to reach foreign customers. Compared to domestically-oriented firms, exporting firms incur substantial sunk costs to enter foreign markets.
Pashminas – scarves and shawls in bright colors made from the wool of Himalayan goats – are one of Nepal’s most well-known exports. In 2016, the country exported over $25 million worth of these products, comprising 3.6% of the country’s total exports. Although the products are popular on international markets, exporters face many challenges in getting their products to customers.
Coordinated border management (CBM) is key to unlocking trade facilitation challenges. Improving collaboration between border agencies and the private sector can result in moving and clearing goods faster and more cheaply. Better coordination, collaboration and connectivity are at the heart of our trade facilitation work at the World Bank Group.
- Coordination: Coordinating the activities of different national border agencies in connection with import, export, or transit transaction
The World Bank Group’s Trade & Competitiveness Global Practice is front and center in supporting our corporate Gender Strategy for 2016 to 2023. The strategy defines the level and type of support that the Bank Group is committed to provide to its client countries and firms to achieve greater gender equality.
The World Trade Organization’s Trade Facilitation Agreement (TFA) spearheads a global effort to reduce trade costs, helping countries to connect to the global economy. Many countries have already made progress towards implementation of the TFA provisions, with support from the World Bank Group, the WTO, and other partners.
A lack of transparency: it is one of the most common complaints of the private sector in many developing countries where the World Bank Group works. Sixth Global Review of Aid for Trade., and it is a key objective of international agreements like the World Trade Organization’s Trade Facilitation Agreement (TFA). Implementation of the TFA is a key topic being discussed in Geneva at this week’s
This week, myself and colleagues from the World Bank Group will participate in the World Trade Organization’s Sixth Global Review of Aid for Trade. The bi-annual meetings, held at WTO headquarters in Geneva, bring together trade ministers, civil society, international development institutions and the private sector to monitor progress made toward connecting developing countries to the global trade system.
The concept of farm-to-fork can be complicated when it comes to meat. Fresh meat could be from the farm next door—or it could be from 10,000 kilometers away, having just arrived on a flight from the other side of the globe. With advances in cold chain transportation and logistics, distances that once took meat weeks to travel are covered in days, if not hours. And for a handful of low- and middle-income countries, meat exports are big business.
A new trade policy landscape is emerging with slower trade growth and greater uncertainty. Both developed and developing countries alike are reevaluating their own trade strategies and alliances. The WTO Trade Facilitation Agreement (TFA) and some of the key plurilateral agreements that cover trade in telecommunications, information technology, and government procurement, among others, reflect ongoing commitments to a multilateral system.