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"REGIONAL TRADE INTEGRATION"
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Enhancing the prospects for growth and trade of the Kyrgyz Republic
The Kyrgyz Republic has made major strides in the past decade in its transition to a market-based economy. Its trade and investment policies are arguably the most liberal among the member countries of the Commonwealth of Independent States. Despite the generally progressive stance on structural policies and a sound record of macroeconomic management in recent years, economic growth has been modest, living standards are low, a large burden of external debt has accumulated, and integration into global production and trade remains limited. The growth agenda must address more carefully the constraints to greater supply-side response to ongoing reformsan agenda that can facilitate a broad-based growth of economic activity and exports. Risks to sustainability of current growth rates and continued poverty reduction will otherwise remain high as will the economys vulnerability to external shocks. This report is aimed at assisting authorities fashioning this agenda by focusing on three key challenges:Identifying strategic options to strengthen prospects for medium- and long-term growth and poverty reduction; Assessing ways of leveraging domestic trade policy reforms and existing regional and multilateral trade agreements for further regional and global integration; and Identifying key areas where greater efforts are necessary to facilitate improvements in enterprise capability and productivity.
eBook
Intraregional trade perspective and untapped trade potentials of the Western Balkan region
The main goal of the paper is to investigate the intraregional trade performance of the Western Balkan region in the last five years and identify future intraregional trade opportunities and potentials for the period from 2023 to 2027. The methodology applied in order to explore intraregional trade is based on an analysis of the growth sources of trade at the country and product levels, while the identification of untapped regional trade potentials is based on the methodology developed by the International Trade Center (ITC), which applies the Export Potential Indicator (EPI) at the product level. The results estimated in the paper found that intraregional trade inside the Western Balkan region had had positive trends in the last five years. However, regional trade is still highly concentrated and based on a small number of traded products. The paper, however, found significant untapped regional trade potentials in the future which should be a huge motivation for each country and policymakers to work on further improvements of trade and economic conditions and circumstances for the purpose of intensifying regional trade and accelerating economic growth in these countries through it.
Journal Article
Bridging the information gap: A digital platform for enhancing intra-regional trade in Africa
In Africa’s efforts to achieve economic growth and enhance integration, the focus on intra-regional trade has intensified, fuelled by geographical proximity, and interconnected market dynamics. However, significant obstacles remain, one of which being the lack of accessible information on intra-regional trade opportunities. Credible and specific information on trade opportunities is often overlooked as an important instrument for trade facilitation and export promotion. Consequently, this study seeks to illustrate how a digital information platform can provide traders with insights into bilateral trade possibilities and connect different stakeholders, serving as a more targeted trade facilitation tool. Driven by the persistent information gap impeding intra-regional trade, this research adopts a distinct methodology based on international market selection criteria. This approach identifies potential intra-regional trade opportunities among African countries by matching consistently large and growing import demand and competitive export supply within the continent. The envisioned platform then showcases these bilateral trade possibilities, providing valuable information to navigate the intricate trade landscape. By bridging the information gap, the suggested platform can actively promote greater participation in intra-regional trade.
Journal Article
Determinants of South African agricultural exports to African markets
OrientationThe ‘Africa we want, 2063 Agenda’ is slowly becoming a reality. On 01 January 2021, business operations of the African continental free trade area officially took off. Member states are currently negotiating concessions and are in the process of fully eliminating trade barriers to allow duty-free access into their markets.Research purposeThe purpose of this study is to clearly identify constraints that could potentially jeopardise the long-run success of the free trade area by exploring the fundamental constraints limiting increased intra-African agricultural trade.Motivation for the studyResults of the study will help South Africa to better leverage the African free trade area and take advantage of export market opportunities.Research approach/design and methodUsing panel data that span from 2000 to 2021, the study estimated an augmented gravity model to evaluate the influence of selected explanatory variables on South African agricultural exports to African markets.Main findingsThe results of the fixed effect model revealed that South African agricultural exports are directly proportional to gross domestic product (of both the importer and exporter) and inversely proportional to geographic distance. The results also showed that dummy variables such as infrastructure and participating in the same regional bloc play an important role in exacerbating export-led growth.Practical/managerial implicationsIn practice, when structural policies are put in place to address issues such as infrastructure development, countries will experience increased export participation.Contribution/value-addThe study seeks to contribute to knowledge by identifying the main determinants of greater intra-African trade.
Journal Article
Regional trade integration in Central and Eastern Europe: State of play after 15 years of EU membership
Aim/purpose - The purpose of this paper is to analyze regional trade integration of 10 Central and Eastern Europe countries (CEE-10) during the 2004-2018 period, identify regional- and country-level integration patterns and attribute them to potential causes indicated by the literature. Design/methodology/approach - The paper employed literature-based trade integration indicators to data on CEE-10 trade in goods and conducted a review of empirical studies investigating trade integration determinants in CEE. Findings - The results evidence an advancing regional trade integration with decreasing pace in recent years. The study has found all CEE countries to be more integrated with the region. Moreover, several integration patterns have been distinguished. Research implications/limitations - The study found a significant literature gap concerning CEE regional trade integration and its determinants. Its limitations refer to: lack of product-groups-level trade data and narrow scope of trade flows (in goods only). Originality/value/contribution - The paper's value-added stems from a multi-perspective analysis of the CEE regional trade integration and a discussion of region- and country-level integration patterns.
Journal Article
Accelerating trade and integration in the Caribbean : policy options for sustained growth, job creation, and poverty reduction
Unlocking Caribbean Trade Potential: Policy Options for Growth and Poverty Reduction
Is the Caribbean ready to thrive in the global market? This World Bank Country Study offers a comprehensive analysis of trade and integration challenges and opportunities in the Caribbean, providing policy options for sustained growth, job creation, and poverty reduction.
Explore strategies for:
* Accelerating trade integration and improving competitiveness
* Addressing macroeconomic and structural constraints
* Leveraging the Economic Partnership Agreement (EPA)
* Capitalizing on a changing international environment
For policymakers, economists, and development practitioners seeking actionable insights to shape a more prosperous Caribbean future.
eBook
A (More) Systematic Exploration of the Trade Effect of Product-Specific Rules of Origin
Rules of Origin (RoO) are critical components of Preferential Trade Agreements (PTAs). They are designed to stop products coming into a PTA through the partner that applies the lowest tariff – a phenomenon known as trade deflection. While RoO are necessary, complex RoO may undo the benefits of trade agreements. Using a novel database of RoO, this paper evaluates the incidence and restrictiveness of different types of Product-Specific Rules of Origin (PSRs) across 128 reciprocal PTAs for the period 1990–2015. Results, based on a structural gravity model controlling for confounding factors, display wide heterogeneity across different categories of PSRs attached to preferential margins, with more flexible PSRs associated with a significantly stronger trade effect compared to more restrictive ones where exporters do not have a choice among PSRs or have to satisfy multiple PSRs. A simulation exercise reveals that a radical simplification reform leading to the adoption of flexible PSRs providing alternative choices to prove origin would have increased global trade under PTAs on average by between 2.7 and 4% during the sample period.
Journal Article
The Indirect Effects of Brexit on African, Caribbean, and Pacific Trade with the UK and EU
We analyse the ‘indirect effects’ of Brexit on African, Caribbean, and Pacific (ACP) countries’ exports that use the UK as a platform to access the EU market and vice versa. First, we use the EORA26 multi-region input–output database for 186 countries and 26 sectors to characterize the ACP domestic content embedded in bilateral trade between the UK and the EU. Second, we apply the GTAP-VA module to carry out a simulation of how the EU–UK Trade and Cooperation Agreement will impinge on 121 countries and 65 products. The results suggest that while ‘indirect effects’ on ACP countries’ exports may exist, their economic magnitude is small in aggregate because ACP countries supply only small amounts of inputs used in UK–EU bilateral trade. Our simulations also show that these effects may be offset by the likely increase in ACP domestic content in exports because of TCA friction, mainly towards the UK.
Journal Article