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EU at forefront in AfT

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Tuesday, 10 July 2012

EU at forefront in AfT

According to a new monitoring report by the European Commission, the EU and its Member States are the largest provider of Aid for Trade (AfT) in the world.  In 2010, the EU already accounted for around a third of total worldwide AfT; maintaining the all-time high registered the year before and totalling some €10.7 billion committed.
On Trade Related Assistance, the EU and its Member States had already met their €2 billion target, committed in the 2007's EU Aid for Trade Strategy, both in 2008 and in 2009. Aid for Trade helps countries to develop trade strategies, build trade-related infrastructure and improve their productive capacity in order to encourage growth and reduce poverty. Activities include helping countries to build their capacity to trade, through training and technical cooperation such as supporting national trade priorities, adjusting legislation on trade and providing technical assistance for studies on trade-related subjects. The report shows that total Trade Related Assistance reached €2.6 billion in 2010 and the EU and its Member States remain the biggest providers; making up 60% of global commitments. Sub-Saharan Africa continues to be the main beneficiary of EU Aid for Trade.
Accordingly, Development Commissioner, Andris Piebalgs said: "Increasing and improving trade opportunities is part of the solution towards inclusive and sustainable growth of developing countries. Indeed, no country has ever lifted itself out of poverty without trade, at regional and international level. The EU is committed to maintain its world leader position on Aid for Trade. We need to make sure that people in the world's poorest countries have access to markets, helping them to make a living, create jobs and encourage growth as a result."

Source: European Commission