Annual regional consultation of UN agencies working in Africa

Abstract

First, the core institutional mandate of the WTO, as a rules-based system, is trade liberalisation. Eliminating trade barriers significantly increases the medium to long-term trade development prospects of countries. Trade liberalisation and reform are necessary and vital for growth and development. They yield essential development dividends, by generating increased resources and income, which make it possible for governments to alleviate poverty and achieve development objectives, if appropriate mediating and companion policies are applied. Trade liberalisation and reform enlarge the potential market of countries, allowing them to benefit from economies of scale, and technology transfers, through capital goods and knowledge. However, trade liberalisation and reform are not sufficient.