• BLOG SURF
Aid for trade is based on the idea that trade can be a powerful engine for economic development.
It targets trade-related programs and projects - including infrastructure, training and regulatory reform - to help developing countries reap the benefits of international markets and trade. The effectiveness of aid for trade is currently being debated by donors and recipients, with many feeling that the time has come to reform the system to reflect new challenges.
Since aid for trade began in 2005, there has been a staggering increase in free trade agreements.
Most recently, we have seen mega-regional agreements with ambitious membership, such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in Asia and the African Continental Free Trade Area in Africa. In parallel, new regional digital economy agreements are being put into place, covering areas related to the digital economy, including e-commerce and digital services, in various forms. - blog.adb.org/blogs
A version of this article appears in the print on June 27, 2022, of The Himalayan Times.
