For the rural poor, trade and internal market barriers in agriculture present real challenges to benefiting from trade opportunities. Poverty in many parts of the world - especially in Sub-Saharan Africa, where the challenge of ending extreme poverty is greatest - is a strikingly rural phenomenon.
#IMAGES OF LIFING PEOPLE UP FULL#
The report describes four leading characteristics of the poor that have a particularly strong impact on their capacity to extract the full potential benefits of trade: rural poverty fragility and conflict informality and gender.Įach of these four characteristics shapes the environment in which the extreme poor live, and constrains them from benefiting from trade opportunities.
#IMAGES OF LIFING PEOPLE UP DRIVER#
A novel feature of this report is the link drawn between these challenges facing people living in extreme poverty and their capacity to benefit from trade, as a key driver of growth. In this context, trade integration is important not only because of the boost to growth it can provide, but also because there is room for it be executed in ways that more effectively overcome the constraints faced by the extreme poor. The extreme poor face numerous constraints that limit their capacity to benefit from wider economic gains. This, in turn, requires a concerted effort by the international community working with the private sector and governments to establish and implement a comprehensive array of policies, programs, and financial interventions that will reduce the costs of trade and create a more transparent and predictable environment for regional and global commerce. Trade has helped increase the number and quality of jobs in developing countries, stimulated economic growth, and driven productivity increases,īut for the World Bank Group to achieve its Twin Goals of ending extreme poverty and boosting shared prosperity, the benefits of trade must be extended to the poorest and most vulnerable. Developing countries now constitute 48 percent of world trade, up from 33 percent in 2000, and the number of people living in extreme poverty has been cut in half since 1990, to just under one billion people. The report, “The Role of Trade in Ending Poverty,” was presented by World Bank Group President Jim Yong Kim and WTO Director General Roberto Azevêdo at the WTO’s Fifth Global Review of Aid for Trade.Ī dramatic increase in developing country participation in trade has coincided with an equally sharp decline in extreme poverty worldwide. These are among the findings of a report published jointly today by the World Bank Group and the World Trade Organization. “Now cars from nearby villages can reach our village. “Before we had the new road, selling our products and sending our kids to school was very difficult,” said one Laotian farmer. Transformation might be as simple as a new road.
And it is in these places – at dusty border crossings where produce sits idle unless and until bribes are passed, where pitted roads are inadequate to the traffic they carry, where poor farmers are disconnected from market opportunities, and where civil and interstate conflict slows commerce – that transformations in trade can benefit the world’s poorest and most vulnerable people. In many countries, a significant proportion of trade involves people crossing borders on a daily basis to sell goods and services.
Living under $1.25/day often involves running a single-employee businesses, many of them owned and operated by women or working for an informal sector firm, without a social safety net when economic shocks occur.
Democratic Republic of Congo - Français.
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