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New book says trade can reduce poverty

New book says trade can reduce poverty article image
Parliamentary Secretary for International Development Assistance Bob McMullan last week launched a book at Parliament House that details how open markets can help reduce poverty in developing nations. Drawing on 33 research papers and case studies, Trade and Poverty Reduction in the Asia-Pacific Region presents a case for helping developing countries improve their trade-related economic capabilities so they can optimise participation in the global marketplace. "No country has achieved strong and sustained economic growth and rapid poverty reduction without participating in international trade," noted McMullan. "With so many people living in poverty, Australia recognises that trade is critical in assisting communities in developing countries build their livelihoods and break the poverty cycle." He said least-developed countries account for less than one percent of global trade and added that Australia is working with developing countries to help them engage in the global trading system, boost their trade flows and diversify their trade activities. "Australia's support for trade and development is built around two pillars: helping developing countries gain access to international markets for their goods and services, and helping them to be competitive in the global economy," he said. The book was jointly commissioned by AusAID and the World Trade Organisation, and was prepared by the Institute for International Trade at Adelaide University. See the WTO site for more information.

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