EIF NEWSLETTER

Welcome to the latest EIF newsletter, focusing on some recent news in trade and development with a?focus on the least developed countries (LDCs). In this issue, we dive into highlights from the WTO's Thirteenth Ministerial Conference (MC13); celebrate the WTO accessions of Comoros and Timor?Leste; spotlight Sierra Leone's advancements in tourism education; and share our efforts in promoting women's economic empowerment during International Women's Month, amongst others. Plus, we are excited to announce new contributions to the EIF Interim Facility.

Enjoy the read!

EIF UPDATES

New financial contributions to the EIF Interim Facility

The EIF Interim Facility has been bolstered by new contributions from Sweden and the United Kingdom (UK), reinforcing EIF Donor commitments to supporting the LDCs during a critical time of transition. These two new contributions build on the existing financing from Norway and pledges from Finland and the United Arab Emirates (UAE). ?

The EIF Interim Facility aims to reduce the likelihood and impact of risks associated with a gap in support to the LDCs between the closure of EIF Phase Two and until a future multilateral Aid for Trade support mechanism for the LDCs is operational. Discussions regarding this new mechanism are ongoing within a dedicated Taskforce at the WTO. ?

Sweden's contribution, channelled through its development agency Sida, continues its longstanding partnership with the EIF, bringing Sweden's total contributions since 2007 to CHF?31.8?million (approximately SEK 370 million). Further details on Sweden's recent contribution can be found?here.

Sweden's contribution was confirmed at a meeting attended by Sweden's Director-General for Trade Policy at the Ministry of Foreign Affairs, Per-Arne Hjelmborn, and the EIF's Executive Director, Ratnakar Adhikari, alongside their respective teams, on 27 February 2024 in Abu Dhabi on Day 2 of MC13. ?

“Sweden is delighted to be contributing to the EIF Interim Facility as a testament of our long-standing engagement to sustainable trade and development of LDCs during this critical transitional period,” said Mr Hjelmborn. “Sweden values the collaboration with the EIF partnership in shaping a strategic approach to facilitate this transition. We are committed to preserving and enhancing the progress achieved, ensuring impactful outcomes while we collectively engage in deliberations on the future Aid for Trade mechanism for LDCs to further promote their integration into global trade,” he added.

The UK has also made its first contribution of GBP 673,010 (approximately USD 860,000) to the EIF Interim Facility, which follows the CHF 1 million pledge that was announced during MC13 in Abu Dhabi. This marks another pivotal step forward in the EIF's mission to support the LDCs. Since 2007 and including this latest contribution, the UK's cumulative contributions to EIF-led programmes total approximately USD 35.8 million. More information on the UK's contribution is available here.

The UK’s contribution was celebrated at a ceremony attended by WTO Director-General Ngozi Okonjo-Iweala and the UK's Ambassador to the WTO, Simon Manley, on 10 April 2024 at the WTO.?

DG Okonjo-Iweala said: "We are heartened to see the United Kingdom's contribution of GBP 673,010 (approximately USD 860,000) to the EIF Interim Facility. This generous support plays a crucial role in bridging the gap and maintaining the momentum of the EIF's efforts in enhancing the trade capabilities of the LDCs and supporting their sustainable economic development. We express our profound gratitude to the United Kingdom for this donation, which demonstrates a deep commitment to the advancement of the LDCs.”

"In our International Development White Paper, we commit to champion development in the WTO and to support LDCs to fully integrate and participate in the multilateral trading system," stated Ambassador Manley. "We are proud of this additional contribution to the Interim Facility and to continue our support of the EIF," he added.

The EIF's Executive Director Ratnakar Adhikari said: "We are immensely thankful to the UK for its invaluable contribution to the EIF Interim Facility. This support comes at a critical juncture and is key to our work in advancing the trade capacity of the LDCs to help them enhance and diversify their exports amidst ongoing developmental challenges. The UK's unwavering support has been instrumental in propelling our collective endeavours towards sustainable growth and inclusivity in the world's most disadvantaged nations." ??

These latest contributions will help bolster ongoing initiatives, with Interim Facility projects already approved in 24 LDCs and several more to be approved shortly. The Executive Secretariat for the EIF and the EIF Trust Fund Manager are working closely with the LDCs to develop, approve and implement project proposals under the Interim Facility.

IN FOCUS

MC13

February 2024 marked a significant milestone for the global trade community, as the WTO Thirteenth Ministerial Conference (MC13) convened in Abu Dhabi, United Arab Emirates, from 26 February to 2 March.?

The resulting Abu Dhabi Ministerial Declaration pledges to strengthen the multilateral trading system, with the WTO at its core, through reforms designed to tackle the pressing challenges facing global trade today.?

For the LDCs, the conference yielded specific outcomes, such as the endorsement of measures designed to facilitate the LDCs' graduation process, providing targeted support to smooth their transition towards economic development. Another significant development was the agreement on refining the use of special and differential treatment provisions for developing countries and LDCs. This move aims to tailor the global trade framework to better suit the developmental needs of these nations, ensuring that they can more effectively leverage trade for their growth. On the eve of the Ministerial, the WTO LDC Group, together with the WTO Director-General, hosted a high-level event on the future of trade-related technical assistance for the LDCs with the participation of a large number of WTO Members, at which the Government of the UAE announced a pledge of USD 4 million to the EIF.

SPOTLIGHT ON WTO ACCESSION FOR COMOROS AND TIMOR-LESTE

MC13 unfolded as a defining chapter for Comoros and Timor-Leste, marking their accession to the WTO. Their historic accessions, the first in almost eight years, was celebrated at a special ceremony in Abu Dhabi on 26 February 2024, attended by the Presidents of both nations. This watershed moment not only encapsulates the two countries' journey towards economic integration but also underscores the promise of new trade horizons and opportunities.

The EIF was a key partner helping to facilitate the accession of Comoros and Timor-Leste, providing essential support tailored to the unique needs of each country. ?

For Comoros, the EIF's intervention encompassed a broad spectrum of support, including the preparation of analytical documents; the development of market access proposals; and the organization of stakeholder workshops. These efforts were instrumental in accelerating the preparatory processes for WTO accession, thereby enhancing the Government's capacity for effective negotiation and participation in the global trading system.

For more, watch this video message from H.E. Mr Ahmed Ali Bazi, Minister of Economy, Industry and Investment of the Union of the Comoros.

In the case of Timor-Leste, the EIF's support included facilitating national reforms; conducting workshops; and engaging in dialogue processes. Notable achievements facilitated by the EIF's support included the establishment of the National Secretariat for WTO Accession and the development of a legislative action plan. Through policy consultations and the promotion of accession efforts both domestically and internationally, the EIF support was crucial in advancing Timor-Leste's integration into the international trade environment.

Hear from Jorge Martins, WTO Technical Coordinator in Timor-Leste as he shares lessons learned from Timor-Leste's accession process.

INTERNATIONAL WOMEN'S DAY CELEBRATIONS

Right after the global trade discussions at MC13 settled, IWD captured the world's attention on 8 March 2024 with the theme "Invest in Women – Accelerate Progress", setting the tone for a month dedicated to recognizing and advancing women's rights. This celebration kicked off a month-long dedication to women's issues, culminating in the impactful 68th Session of the Commission on the Status of Women in New York, USA, spotlighting the critical need for investment in gender equality for societal advancement.?

As part of the IWD celebrations, the EIF teamed up with the WTO to shine a spotlight on women's economic empowerment and gender equality. A key highlight was the exhibition at the WTO headquarters, showcasing the inspiring stories of female entrepreneurs from the LDCs who have been supported by the EIF. This exhibition also cast a light on the crucial work of the WTO Gender Research Hub under the #TradeForWomen theme, emphasizing the vital link between trade and women’s economic empowerment.

Complementing the exhibition, the EIF rolled out a dynamic social media campaign aimed at amplifying the narrative around women's economic empowerment. This campaign shared compelling stories of how the EIF's support has catalyzed change and facilitated the economic empowerment of women in the LDCs, providing a digital platform to celebrate these achievements far and wide.?Discover the stories by visiting our X, LinkedIn, Facebook and Instagram pages.

The month's festivities culminated in a collaborative event co-hosted by the WTO and the EIF, fostering a deep-dive discussion on gender and women's economic empowerment. This event highlighted the WTO's trade and gender initiatives, spearheaded by its Trade and Gender Office, alongside showcasing the tangible impacts and insights from the EIF's Empower Women, Power Trade (EWPT) initiative, including inspiring snapshots from some of the projects with partners, such as the International Trade Centre (ITC), the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) and the Global Shea Alliance, and the presentation and discussion of findings and lessons from a recent review of the EIF’s EWPT initiative. ???

Watch the recording of the event here.

RECENT SNAPSHOTS FROM THE LDCs

Sierra Leone Unveils Upgraded Tourism Training Facilities

On 19 March 2024, Sierra Leone celebrated a landmark achievement in tourism education with the unveiling of new and improved tourism skills facilities at the Milton Margai Technical University, an initiative facilitated by the EIF. Demonstrating strong inter-ministerial linkages, a ceremony including the participation of the Minister of Tourism and Cultural Affairs, Nabeela Tunis; the Minister of Trade and Industry, Ibrahim Sesay; and the Minister of Technical and Higher Education, Dr Ramatulai Wurie highlighted the collaborative efforts to enhance sustainable tourism education in Sierra Leone. The EIF's support included the refurbishment of educational infrastructure; the establishment of a?practice hotel for hands-on student training; and the rollout of comprehensive curricula for higher national diploma and bachelor’s degree certifications. Aimed at seamlessly integrating theoretical learning with practical experience, this initiative promises to equip students with the skills necessary to elevate Sierra Leone's tourism services to international standards, preparing 600 graduates each year to make substantial contributions to the global tourism market. This builds on broader investments from the EIF in laying solid foundations for Sierra Leone’s tourism policy framework and offerings.

Global Acclaim for Nepali Tea: Siddha Devi’s Win at the World Tea Expo

We would like to congratulate Siddha Devi Tea Estate Pvt Ltd, a beneficiary of the EIF-supported Nepal’s Increased Sustainable Tea Exports Project (NISTEP), which?has been awarded the prestigious Grand Champion title at the 2024 World Tea Expo, held between 17 and 20 March 2024 in Las Vegas, USA. This achievement, recognizing the highest scorer across all tea types and origins, was awarded for their exceptional White Tea/Silver Wings, also winning in the Best Liquor and Best White Tea categories, marking a significant moment of international acclaim for Nepali tea. NISTEP's mission to boost sustainable tea exports has been pivotal in achieving such milestones. The EIF project focused on the development of a traceability system; the expansion of organic certifications; the promotion of the collective trademark "Nepal Tea Quality from the Himalayas". It also facilitated the participation of Nepali tea stakeholders in international expos; complemented by training on online sales, branding and packaging. With improved compliance to international standards and access to international markets, the project has enhanced the global presence and perception of teas from Nepal, leading to increased exports, better export prices and improved livelihoods for tea producers.

Read more here.

Empowering Bhutan in its journey towards WTO accession

From 22 to 25 January, the Centre for WTO Studies at the Indian Institute of Foreign Trade joined forces with the Royal Government of Bhutan and the EIF to host an intensive training programme in New Delhi, India, targeted at Bhutanese trade officials. This collaborative effort sought to enhance Bhutan's preparedness for WTO accession, catalysing its seamless integration into global trade. The training delved into the intricate web of WTO agreements, negotiation strategies, dispute resolution mechanisms, and trade policy reviews. Present speakers, including previous WTO accession negotiators, shared their expertise and insights on how accession negotiations take place in a real-life situation. The EIF's support to Bhutan in the WTO accession process has roots dating back to 2012, with the initiation of a Diagnostic Trade Integration Study that extensively analysed the benefits and challenges of WTO accession for the country. Subsequently, the EIF facilitated institutional capacity-building projects aimed at mainstreaming trade and implementing necessary reforms. These initiatives laid the groundwork for Bhutan's re-engagement in the WTO accession process.

UPDATE FROM PARTNERS

Digital Horizons: UNCTAD's eWeek 2023 Insights

ICYMI, UNCTAD's eWeek 2023 has left a lasting mark with its Outcome Document, "The Geneva Vision on the Future of the Digital Economy" unveiled in January this year. This document, emerging from the largest eWeek to date, calls for urgent actions: to seize digital opportunities for development, bridge digital divides and foster effective global governance for data and AI. The eWeek itself drew participation from over 3,500 individuals across 159 countries, showcasing the vast potential of the digital economy for shared development benefits. As the eWeek now moves to a biennial schedule, we look forward to the 2025 edition.

WTO and ITC Unveil WEIDE Fund for Women's Digital Trade Empowerment

Exciting news from the WTO and ITC: the Women Exporters in the Digital Economy (WEIDE) Fund is here! This USD 50 million global initiative is set to catapult women-led businesses into the digital and international trade arenas, specifically targeting those in developing countries and LDCs. Set to open for applications in the second quarter of 2024, the WEIDE Fund was unveiled at the WTO-ITC High-Level Event on Women and Trade (held on 24-25 February 2024) in the run-up to MC13. The Event also featured the SheTrades Summit on its first day, bringing together over 250 women entrepreneurs from more than 60 countries, alongside global business leaders and international development partners, highlighting a collective commitment to leveraging trade for women's economic empowerment in the digital age.?Watch the high-level event recording here.

Shaping Future Supply Chains: Insights from the Asia-Pacific Trade Facilitation Forum (APTFF) 2024

The 11th APTFF in Samarkand, Uzbekistan, held from 1 to 5?April 2024, turned the spotlight on using digitalization to create sustainable supply chains across the Asia-Pacific. Organized by the Asian Development Bank and UN-ESCAP, this key event brought together over 250 participants from more than 30 countries, focusing on the power of digital technologies to enable greener and more efficient trade practices. During the Forum, the EIF's Executive Director, Ratnakar Adhikari, shared his insights on a panel about "Leveraging Digitalization for Sustainable Supply Chains". He highlighted the importance of digitalization in creating inclusive trade opportunities, particularly for the LDCs, emphasizing the EIF's efforts to reduce the digital divide and support sustainable trade practices.

TRADE FOR DEVELOPMENT NEWS ARTICLE HIGHLIGHTS

Don't forget to have a look at our engaging Trade for Development News platform, where we frequently publish articles, stories and op-eds focusing on trade and development in the LDCs. Below, you will find some of the most recent publications.

Reversing the decline in LDCs' services exports post-pandemic

By Salamat Ali and Brendan Vickers

Although the services sector has emerged as a new engine of economic growth, the lingering effects of the COVID-19 pandemic have severely affected services exports from the LDCs. Urgent actions by the LDCs and their trading and development partners to improve utilization of the WTO Services Waiver, incentivize foreign direct investment (FDI) and technology transfer, promote regional trade initiatives, leverage Aid for Trade, and address the digital divide can help reverse this trend, enabling the LDCs to benefit from a services-led transformation…CONTINUE READING ?

Lessons from Cambodia: how it is outgrowing its least developed status through openness

By Cham Nimul and Ratnakar Adhikari

Cambodia has managed to combine its openness to external investment, trade and business with effective use of AfT and strong country ownership, which has helped sustain economic reforms. A careful balance of these factors is imperative for any LDCs aspiring to achieve sustainable and irreversible graduation...CONTINUE READING ?

The Least Developed Countries are falling behind on digital transformation — here's what to do (on the WEF Agenda)

By Ratnakar Adhikari and Taffere Tesfachew

Digital technology touches every aspect of human lives and all the UN Sustainable Development Goals (SDGs). While digital transformation can help the 45 Least Developed Countries (LDCs) to sidestep traditional development pathways, the real challenge is the growing digital divide between the LDCs and the rest of the world…CONTINUE READING ?

MARK YOUR CALENDARS

The upcoming WTO Global Review of Aid for Trade 2024, scheduled for 26-28 June 2024, is a crucial event in the Aid for Trade space. This year, the focus will be on "Mainstreaming Trade". Please stay tuned for further details on the programme of the Global Review, and you can also read more?here.

EIF IN THE NEWS

? Commerce électronique / Plateforme "BoutiK 221": Le ministre outille les points focaux des chambres de commerce Dakaractu │ 13 February 2024 ?

? COMMERCE EXTéRIEUR - Nouveaux soutiens du Cadre Intégré Renforcé L'Express de Madagascar │ 17 February 2024? ?

? Zambia Increases Honey Exports ZNBC │ 26 February 2024

? CM13/ Trade Secretary fights for free and fair trade at global summit GOV.UK │ 26 February 2024 ?

? OMC: Grace au Cadre intégré renforcé, le Mali veut améliorer ses filières porteuses Bamada │ 28 February 2024 ?

? Sweden gives SEK 27 million to support trade growth in LDCs through EIF Facility The AnnaPurna Express │ 29 February 2024 ?

? CM13/Le Cadre Intégré Renforce (CIR): ?Le secteur commercial a tiré profit d’un soutien effectif aux exportations de produits béninois L'intégration │ 29 February 2024

Thank you for taking the time to read our newsletter. We hope you found it informative and enjoyable. We welcome your feedback and suggestions for future topics that you would like us to cover in the upcoming editions!

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