GTPA response to the Commonwealth Trade out of Poverty enquiry
The benefits of international trade are currently the subject of debate in various contexts, however, it has long been demonstrated that, even with its
systemic imperfections which must be acknowledged, trade has been a powerful driver for economic value creation, inclusion and poverty reduction, as
well as peace and security.
Trade has, until the peak of the global crisis, grown at rates that exceed the pace of global GDP growth, and thus has also been referenced as a driver
of growth of the global economy. In recent years, global supply chains are largely anchored in developing and emerging markets, with large buyers often
engaging in trade with communities of suppliers numbering in the thousands or multiple thousands, including micro-enterprises sometimes belonging to
It is in this macro-context that deliberations around trading out of poverty ought to be considered and understood.