Global Economic Prospects: High Trade Costs
June 2021
Mari Pangestu, World Bank Managing Director of Development Policy and Partnerships, was joined by experts from the World Trade Organization (WTO) and the private sector to discuss the current state of trade, the magnitude of trade costs, as well as the main determinants and policies which could lower them.
Trade, powered by integration of developing countries into global value chains, has been an important engine of output and productivity growth. The COVID-19 pandemic was a shock to trade flows, but goods trade rebounded within a few months and supported economic activity. High trade costs in many developing countries are a significant curb on investment. Reducing these costs is an opportunity to boost trade and strengthen recovery.
Panelists:
Moderator:
