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The Right to Trade

Rethinking the Aid for Trade Agenda

image of The Right to Trade
Aid for trade is a fixture in the development landscape, accounting for approximately 25 per cent of total ODA, and is being positioned as a building block in the future development agenda beyond the 2015 expiry of the Millennium Development Goals.



In The Right to Trade, Nobel Prize-winning economist Joseph E Stiglitz and Andrew Charlton argue that aid for trade has not delivered on its initial promise.



To create a genuinely pro-development trade liberalisation agenda, the authors propose that a ‘right to trade’ and a ‘right to development’ be enshrined within the WTO’s dispute settlement system; and that aid for trade funds be consolidated into a coherent and predictable framework, where dedicated funds are committed by rich countries to a Global Trade Facility and dispersed through a transparent and competitive process.



Together these proposals would help ensure that international trade works for developing countries and will help preserve a development-friendly multilateral trading system.

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A Proposal to Support Pro-development Trade Liberalisation

Aid for trade has failed to live up to its promise of additional, predictable and effective finance to support developing countries’ integration into the global economy. More importantly, aid for trade may not be addressing the fundamental concerns with the global trading system and aid system that gave rise to it, and instead has become a means for both the aid and trade communities to paper over their weaknesses without doing much for the fundamental concerns of poor countries.

English

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