By TIOL News Service

PARIS, APRIL 23, 2018: THE OECD has noted that the efforts to enhance trade integration have recently slowed down, or even reversed. This stagnation is problematic, as OECD's most recent study demonstrates that trade liberalisation increases trade, GDP, private consumption, wages, and productivity for all members of a regional trade agreement. The more countries participate in an agreement, the larger the benefits.

Low-income countries, and countries that are strong traders, tend to see the biggest economic boost and better integration in global production networks is a main driver of benefits for smaller economies. At the same time, policymakers must also implement domestic policies that mitigate negative effects from trade by supporting labour markets, social safety nets, and, most importantly, equality of opportunity.