Trade facilitation and poverty reduction: Literature review and framework

It is now widely recognised that trade can act as a powerful engine for economic growth and development, especially in Asia and the Pacific. Developing countries have long strived for a development strategy that will sustain high economic growth, create employment opportunities and eliminate poverty. Trade policy is being used by the developing countries as a tool for attaining their development objectives, which aim to combine higher economic growth with employment generation in order to alleviate poverty. Earlier, few would have believed that trade and development would become so inextricably linked, both at the economic and political levels. However, the successful experiences of several developing countries, especially in the Asia-Pacific region, that have achieved rapid economic development through trade expansion are testimony to the benefits from increased participation in international trade.

Related Subject(s): Economic and Social Development