Trade

The World Bank Group helps developing countries improve their access to world markets and enhance their participation in the global trading system. Trade is an engine of growth that creates jobs, reduces poverty, and increases economic opportunities. Economic growth, underpinned by better trade practices, has helped lift more than 1 billion people out of poverty since 1990.

Recent research shows that trade liberalization increases economic growth by an average of 1.0 to 1.5 percentage points, resulting in 10 to 20 percent higher income after a decade.

Since 1990, trade has increased incomes by 24 percent globally and by 50 percent for the poorest 40 percent of the population.

Trade is also linked to higher female participation in the formal labor market, where wages are higher. Exporters in developing countries employ more women than non-exporters, and women comprise up to 90 percent of the workforce in export-processing zones. Fostering cooperation through trade and business is also pivotal in helping countries escape conflict.

The World Bank Group supports an open, rules-based, and predictable multilateral trading system, one in which developing countries can participate and reap its benefits. To help reach these goals, the World Bank Group supports regional and multilateral trade agreements; emphasizes that trade and competitiveness are at the core of national development strategies; and promotes trade-related reforms through effective Aid for Trade.

The World Bank Group helps developing countries improve trade performance and deepen their regional and global economic ties. We facilitate trade through improved border management, logistics, and connectivity. Our approach delivers high quality diagnostics and data and provides hands-on operational support to client countries.

The Trade Facilitation Support Programhelps countries improve cross-border trade by supporting the implementation of the World Trade Organization Trade Facilitation Agreement. Through targeted technical assistance, capacity building, and knowledge sharing, the Trade Facilitation Support Program partners with countries to identify bottlenecks, design reforms, and implement solutions that make trade faster, more predictable, and less costly.

The Umbrella Facility for Tradehelps countries to integrate into regional trading blocks and globally, including by assessing the impacts for countries in joining regional trade agreements such as the Africa Continental Free Trade Area, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and the Central European Free Trade Agreement. The Umbrella Facility for Trade also supports countries with their World Trade Organization accession efforts.

External Affairs Contact

Paul Clare
pclare@worldbankgroup.org