Post 2015: Global Action for an Inclusive and Sustainable Future

achieve results. With regard to trade, as embodied
in the Wto rules and as being negotiated in the
DDr, there have been some positive outcomes from
the perspective of lDcs, such as the commitment
to DFQF market access for all lDcs; a predictable
and rule-based trading environment; a policymaking
environment of equal voice, in principle,
irrespective of a country’s economic status; and
concerted efforts to mobilise resources to help
developing countries, in particular lDcs, to
expand their trading capacity (the aft agenda). but
there remain problems and unfinished business, for
instance: the continuation of tariff escalation on
certain goods as well as ‘nuisance tariffs’ (very low
tariffs that cost more to collect than they generate
in revenue); lack of progress on agricultural tariffs;
poorly defined special and differential treatment
(montes, 2013); improving trade facilitation; and
the conspicuous absence of discussion on labour
mobility, which could potentially do more to
promote development than all the current trade
proposals combined.
Given the importance of trade multilateralism to
lIcs and lDcs, the question is how to resuscitate
it. the answer lies in part in how the Wto should
evolve and in part in how the global community
can attune trade multilateralism to the changing
global context and make its decision-making
processes more inclusive. multilateral trade
negotiations should move beyond the DDr and
include borderline issues such as trade and finance,
and trade and climate change (page, 2011). they
should engage with current global challenges 105 such
as natural resource scarcities and food security, and
help to articulate and build consensus on a tradebased
response to these challenges.
In order to play such a role the Wto may need
to be decoupled from its narrow agenda on trade
liberalisation (basnett, 2011b). the Wto needs
to associate itself with an agenda for leveraging a
broader set of trade policies to address emerging
global challenges. It should remain a guardian of
trade rules, norms and knowledge that support
development (Hoekman, 2004), but meaningful and
deeper trade integration is more likely to happen at
a bilateral and/or regional level. Hence, multilateral
rules and norms embodied in the Wto should seek
to consolidate bilateral and regional experience
(Wignarajara, 2011). this raises the issue of how
to ensure that trade liberalisation at lower levels
of operation is consistent 106 and how to protect the
voice and interests of developing economies. the
latter is important because power hierarchies and
relations can be acute at bilateral and/or regional
levels.
8.5 Current and future EU policies
on trade and investment
Europe is already an important and stable trading
partner for lIcs (com, 2012a and 2012b). It is
one of the most important destinations for their
exports, accounting for more than canada, china,
Japan and the uSa. It already has preferential trade
and development instruments for lDcs, such as the
Eba. Given the countries eligible for Eba, it is also
a relatively good proxy of Eu trade policy towards
lIcs. 107
In 2000, the value of exports from lIcs to the Eu
totalled €11.4 billion, which had increased to €19.5
billion by 2011. Imports from lIcs as a percentage
of total Eu imports have varied from a high of
1.3% in 2001 to a low of 0.9% in 2008; in 2011 they
represented 1.1%. most of the growth in lIc exports
to the Eu has been driven by bangladesh (26%),
cambodia and Kenya (11% each). the relative
importance of the Eu as a market for lIc exports is
therefore heavily influenced by bangladesh, which
105 For further discussion see te velde, 2011b and te velde, 2012a.
106 In particular, concerns relate to the welfare implications of bilateral and regional trade agreements, and whether they create or divert trade.
107 albeit with some exceptions, notably Kenya. For more detail, see Stevens (2012).
poSt-2015: Global actIon For an IncluSIvE anD SuStaInablE FuturE
The lack of an
active multilateral
framework is
likely to most
disadvantage and
further
marginalise the
LICs and LDCs.
155