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Lower trade barriers, stronger global trading system can help end extreme poverty

Published on July 01, 2015

A greater and more sustained effort to deepen the integration of developing countries into the global trading system through lower trade costs and fewer barriers between countries is essential to eliminating extreme poverty, according to a joint World Bank Group and World Trade Organization report released today (30 June 2015). “By supporting growth and development around the world, trade has proved to be an essential tool in tackling poverty. This report is a blueprint to enhance this role so that trade can do even more to improve the lives of the poorest and most vulnerable,” said Director-General Roberto Azevêdo.

The report, “The Role of Trade in Ending Poverty,” points to trade as a key enabler of developing country growth, but says that efforts to lower trade barriers will need to be complemented by efforts to maximize gains for the poor in order to ensure that the benefits reach the world’s poorest and most vulnerable people. Read more. Source | World Trade Organization