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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Three Seoul Sleepers and a Damp Squib

Perhaps predictably, media coverage of the G-20 Seoul Summit focused on the currency wars, and assessments of impact of the meeting were decidedly mixed (though, interestingly, more negative in the United States than in the big emerging markets). But global imbalances were hardly the only item on the agenda. Three summit documents have the potential to become more important with the passage of time, especially if the development community seizes upon them as opportunities to press the big economies for pro-development policies and spreads the word.

Trade at the Seoul Summit: Will the G-20 Finally Move Forward on Improving Access for Poor Countries?

There actually seems to be hope that next week’s G20 summit will move beyond the tired mantra to finish the Doha Round and give a push to the Millennium Declaration commitment to provide duty-free, quota-free market access for the world’s poorest countries. This is an opportunity to contribute to job creation and growth when the global economy is still fragile. Furthermore, it would have minimal impact on importing countries since the least-developed countries account for around 1 percent of global trade.

A Good Start, but the G-20 Must Do More on Trade Preferences for Poor Countries

This is a joint posting with Kimberly Elliott and also appeared on the Huffington Post.

With one important reservation, we welcome last week’s EU proposal that the upcoming Pittsburgh G-20 Summit “should adopt the “Everything But Arms” (EBA) initiative without delay to support people in developing countries suffering from the crisis.” The EBA nominally provides 100 percent duty-free, quota-free market access for exports from least-developed countries, so suggesting that the rest of the G-20 replicate it is clearly in line with a Sept. 2 letter sent by members of the CGD Global Trade Preference Reform Working Group. The letter called upon:

Time to Deliver on Duty-Free, Quota-Free Market Access for the World’s Poorest Countries

This blog entry also appeared on the Huffington Post.

Leaders of the world’s richest nations have repeatedly pledged to offer the world’s poorest countries duty-free, quota-free (DFQF) access to their markets. Such access is one of the most powerful tools that high-income countries have to help poor countries to help themselves. The upcoming G-20 summit in Pittsburgh is an opportunity for the world’s leaders to finally deliver on this promise.