Egypt presented its vision for the initiative (Aid for Trade) before the Fifth Regional Workshop Seminar WTO trade aid organized by the Islamic Development Bank Group in Amman is currently under the title (reducing trade costs for inclusive and sustainable growth).
According to this vision, Egypt hopes to increase the amount of aid, whether technical or financial granted to developing and least developed countries in the framework of the initiative (Aid for Trade) and securing a sustainable additional resources and work to establish a mechanism for monitoring and evaluation to activate this initiative.
Egypt proposes the establishment Lease Fund to help in order to trade in the framework of the Committee on Trade and Development pours in which all requests made by developing and least-developed countries for assistance for trade, as well as all provided by the agencies, donor organizations, financial flows shows.
Egypt is demanding donors as this kind of complement to the program of the coming aid and assistance is not a substitute for it and work to regulate the procedures for obtaining assistance for trade.
The aim of the Egyptian vision to help developing countries and least developed countries to improve their production capacities so that they can diversify their products and the ability to compete with other products in the global markets, improving infrastructure and trade policies of these countries and help them to remove all the obstacles faced when applying the obligations under the World Trade or organization when conformity to international standards.
With regard to the mechanism for activating the initiative (Aid for Trade), Egypt called on donors to prepare an accurate assessment of the actual needs of developing and least developed countries so there is a mismatch between the needs and the aid and the emphasis on the impact on trade.
It also demanded the need to identify the actions that must be taken by developing and least-developed countries at the request for assistance for trade and identify a single point vested in those proceedings, and the granting of such aid in the form of grants and not loans, so are not considered as adding to the burden borne by these countries to integrate into the system multilateral trade.
He pointed out that the costs of transport and trade within Africa are more than twice as much as in Southeast Asia, calling donors to provide additional funding to help in order to trade so that does not preclude it from other development priorities such as health and education.
Recipient countries’ interest in the plans of trade and demanded identification and assistance in this matter and to work on stakeholder involvement, saying .. “The initiative (Aid for Trade) is the real investment But the lesson effectively such assistance and the benefits that will accrue to the recipient countries.”
Turning the paper to the Egyptian experience in the framework of the initiative (Aid for Trade for Arab countries), which was launched in November 2013 and adopted by the League of Arab States, and aims to strengthen the capacity of Arab countries to use trade as an engine of growth to boost investment and create jobs and increase the activity of trade between Arab countries.
Noted the paper in this regard a project to improve the performance of transport corridors and trade, pointing out that the obstacles liquidity supply chains commercial topping the major challenges facing the regional economic integration and the Arab region and hamper bilateral trade, which represents only 10% of the total trade Alakulaimah..makdh the need to address the logistics of development trade and performance because they represent major obstacles to regional trade integration in line with Riyadh declaration.
She explained that this project aims to enhance the performance of trade and transport corridors in the region, enhance management performance through the selected border, strengthen the economic ties between the Arab countries in a systematic manner, the reduction of barriers to operations of the supply chain, particularly trade, transport and transit, exchange of experiences and adopt the best of practices relevant international organizations, to increase inter-Arab trade volume.
It reported that the project’s strategy is focused on supporting the performance of trade and transport corridors in the border centers selected countries, namely: (Saudi Arabia – Egypt – Sudan) and (Egypt – Sudan) and (Egypt – Libya) and (Iraq – Jordan).
The Egyptian side at the symposium – which concludes later today – Mrs. Hala Dakroury general manager of assurance and export finance sectors of foreign trade and trade agreements (Ministry of Industry and Trade, small and medium enterprises) and Mohammad students Metwally Unit Director Planning and External Relations.
Participants in the seminar as well as a group of leading international and regional experts to set apart from the Islamic Development Bank and organizations working in the field of commercial facilities and a number of representatives of trade ministers and private sector organizations.
The seminar is organized in preparation for the Fifth International Conference of the assistance program in the trade sector, which will be marked World Trade Organization in Geneva, Switzerland during the period from June 30 to July 2, and the next, which will include all members of the international organization.
Islamic International Foundation was founded to finance trade as an independent entity within the Islamic Development Bank Group; the aim of promoting trade capacity and development of social – economic conditions of the population in all parts of the world, began its activities in 2008 to encourage two-way trade between the Member States of the Organization of Islamic Cooperation.