[CUTS-TradeForum] Trade and investment are essential for sustainable development – DG Azevêdo.

From: CUTS International

Trade and investment are essential for sustainable development – DG Azevêdo

World Trade Organisation

July 10, 2017

Speaking at a Workshop on Investment Facilitation for Development on 10 July 2017 at the WTO, Director-General Roberto Azevêdo said that combining trade, aid and investment can help countries foster development, diversify their export capacity and better integrate into the global economy. The event was organized by the Friends of Investment Facilitation for Development (FIFD) – representing 11 WTO members — and gathered experts from international organizations, non-governmental organizations, the private sector and academia. 

This is what DG Azevêdo said:

The fact that you chose to hold this meeting in tandem with the Global Aid for Trade Review is very significant.

It helps to bring these discussions to life. And it helps to underline that trade, aid, and investment are necessary, and complementary, elements in promoting sustainable development.

It is clear that developing countries need more investment and more trade – as well as more aid. These elements are essential to successfully connect to global markets, leverage the digital economy, and fast-forward development.

UNCTAD estimates that developing countries will require an additional 2.5 trillion dollars each year to meet the Sustainable Development Goals. And half of this amount will need to come from private investors. 

Please read this news item at:

https://www.wto.org/english/news_e/news17_e/igo_09jul17_e.htm

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