A joint publication by the WTO and the OECD reports that more than half of the developing countries surveyed have made progress in growing their economies since the launch of the World Trade Organization's (WTO) Aid for Trade Initiative in 2006.
The report, entitled “Aid for Trade at a Glance 2024,” shares the results of a survey of 2024 members, of which 110 are from developing countries. The largest simulator of assistance was recorded in trade facilitation, accounting for 100 percent of responses from Latin America and the Caribbean. Also included are agriculture, digital connectivity and e-commerce. The publication notes that disbursements reached a record USD 51100 billion in 2022 (up more than 14% year-on-year).
However, they persist challenges so that countries can benefit from the trade opportunities offered by the digital and green transition. In this regard, the study considers that the WTO's aid for trade is an instrument that countries can and should take advantage of. LAC, for example, received only 8% of disbursements in 2021-2022.
Looking ahead, the WTO and OECD noted that there is a need to support the priorities national objectives such as digitalisation, services, the green transition and women's and youth employment. Policies and regulations on tourism and trade are also included. These development objectives are aligned with those found in the United Nations Development Strategy.
In her remarks at the launch of the report, WTO Director-General Okonjo-Iweala, warned “Growth is projected to reach 3,3% next year. Trade in services is growing strongly, particularly digitally delivered services, which have quadrupled in value since 2005 and are growing at a rate of around 8% per year. Green trade is also increasing.” Accordingly, “the key is to create an enabling environment for developing countries to take advantage of these opportunities.”
To this end, the Secretary General of the OECD, Mathias Cormann remarked that “Aid for Trade remains an effective channel.” (Joint publication by the WTO and the OECD Aid for Trade at a Glance 2024)
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