Dr. Ngozi Okonjo-Iweala, Director General of the World Trade Organization (WTO), will start the 8th Global Review of Aid for Trade, which will take place at the WTO headquarters in Geneva, Switzerland on July 27th and 29th, 2022.
The evaluation would highlight areas where developing and least-developed countries (LDCs) require assistance to address supply-side limitations that limit their ability to participate in international trade.
The topic of the hybrid event, which will take place both physically and online, is “Empowering Connected, Sustainable Trade,” according to the WTO.
Aid for Trade helps developing nations, especially LDCs, improve their trading capabilities.
The worldwide review aids in galvanizing support for overcoming supply-side and trade-related infrastructure barriers so that developing nations can reap the full benefits of international commerce.
The assessment will include the release of “Aid for Trade at a Glance 2022: Empowered Connected, Sustainable Trade,” a joint publication by the Organisation for Economic Co-operation and Development (OECD) and the World Trade Organization (WTO).
It would look into the responses to the self-assessment questionnaires that donors (bilateral and multilateral agencies), regional economic communities/transport corridors, South-South partners, and developing and LDCs have submitted as part of the monitoring and evaluation process over the last few months.
The worldwide review helps to rally support for overcoming supply-side and trade-related infrastructure challenges so that developing countries can thrive.
Aid for trade priorities were examined, as well as how they had changed since the previous monitoring exercise, policies for sustainable development, and policies for women’s economic empowerment.
Green growth and digital connectivity give chances to accomplish several targets in the 2030 Sustainable Development Agenda while also fostering economic and export diversification, according to the exercise.
Francis Ndubuisi in Abuja
