G20 Development Working Group Submissions
45. "To follow up on the
Toronto Declaration which asks
international agencies... to step
up their capacity and support
for trade facilitation... we call
on such institutions to coordinate
a collective multilateral agency
response..." (2010 MYAP).
46. "...the WTO to review the
effectiveness of existing trade
finance programs for LICS
and to report on actions and
recommendations..."
(2010 MYAP).
47. "...African Development
Bank...to identify...obstacles
and barriers to regional trade
integration in Africa" (2010
MYAP).
An MDB report on trade facilitation has been
delivered by AfT review.
July 2011: Transparency in Trade initiative (TNT) is
launched.
While the trade finance markets recovered quickly
after the crisis in the major markets, problems with
accessing affordable trade finance have worsened
for traders in low-income countries. Multilateral
development banks have developed a network
of trade finance facilitation programmes aimed at
supporting trade transactions at this lower end of
trade finance markets. Demand for these facilities
keeps growing, as an indicator of the market gap in
these countries.
Multilateral agencies will need to remain engaged
in trade finance, at least to help fill the structural
gap at the lower end of the market. Dialogue
with regulatory agencies will need to be pursued
to ensure that trade finance is recognized as a
development-friendly and low-risk form of finance.
Also, the ADB recently released a survey which
finds that there is a gap in trade finance, noting that:
"$1.6 trillion of demand for global trade finance
was unmet, with $425 billion unmet in developing
Asia".
June 2011: The AfDB presents a draft paper on
obstacles and barriers to regional trade integration
in Africa.
The AfDB System of Indicators to Monitor Regional
Integration is scheduled for presentation to the
Bank's Committee on Operations and Development
Effectiveness (CODE) on 2nd April 2013.
✓ Completed:
No further DWG
action at this
stage
T: July 2011
✓ Completed:
No further DWG
action at this
stage
T: February
2011
✓ Completed:
No further DWG
action at this
stage
T: June 2011
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