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Aid for trade could help to create jobs

22 July 2011
Jobs may be created around the world as a result of "aid for trade" efforts, with the head of the Organisation for Economic Co-operation and Development (OECD) declaring such efforts are improving people's lives.

According to Angel Gurria, secretary-general of the Paris-based agency, "strategies and priorities [are] increasingly focusing on competitiveness and trade-led economic growth".

He was launching the third Global Review of Aid for Trade in Geneva and stated that the practice is showing results, with momentum maintained within developing nations and among donors despite the global recession.

"The report paints a welcome picture of aid for trade," Mr Gurria declared, adding that the case should be made for more money for projects, with an average annual real growth rate of 15 per cent taking commitments from donors to $40 billion in 2009.

He also pointed to the ways in which programs are building "the human, institutional and infrastructure capacity" needed for developing nations to access global markets.

Recent OECD figures suggested the unemployment rate held steady in May 2011 at 8.1 per cent for the third month in a row, as the region continued to show signs of recovering from the downturn.

Posted by Lee ThraceADNFCR-1275-ID-800629390-ADNFCR