FAMBB

66 FROM AID TO COOPERATION© ReutersSustainable trade forbetter developmentTrade and investment can be powerful driversof growth and jobs. The current MDGs touchon this, but there is scope to go deeperBy Arancha González, Executive Director,International Trade CentreIn the hour it will take to read thispublication, $3 billion in trade andforeign direct investment (FDI) flowswould have been transacted. And thisis happening every hour of every day.This has one fundamental outcome – anincreasingly integrated world built onthe framework of exports, imports andinvestment.Trade and FDI are powerful drivers ofgrowth. They bring technological change,which is a critical input for increasedproductivity and innovation. And agrowing body of evidence is confirmingthat productivity can trickle down to eventhe most vulnerable in the economy andcontribute to improved livelihoods. But tobenefit from this, economies must placetrade at the centre of their developmentplanning and ensure a business climatethat is favourable and facilitative toinvestments.GLOBAL DEVELOPMENT GOALS 2014