Boosting productivity through trade policy reforms - WTO
Agricultural trade expected to grow by 1.3% annually over next decade
24 July 2023
1 minute read
By: On 6 July, DG Okonjo-Iweala welcomed the conclusion of talks on investment facilitation for development, against the backdrop of challenges that include high food and energy prices, according to a news release from the World Trade Organisation (WTO).
“Encouraging increased foreign direct investment (FDI) flows takes on particular importance, given the need to drive growth, raise productivity, create jobs and improve living standards,” the DG said.
Agricultural trade is expected to grow at a slower rate of 1.3% annually over the next decade, according to new analysis from the Organisation for Economic Cooperation and Development (OECD) and the Food and Agriculture Organisation.
Greenhouse gas emissions from agriculture are also expected to increase by 7.5%, or less than half of the expected growth in output – meaning that the carbon intensity of agricultural production is due to fall significantly, the two agencies said.
A new report from the WTO and World Bank Group also highlights the critical role of trade in services in improving food security, and strengthening agricultural productivity.
