EIF Newsletter: Updates from the world of trade and LDCs
Enhanced Integrated Framework (EIF)
10+ years fostering trade, changing lives WITH and FOR least developed countries
Welcome to the November edition of the EIF Newsletter! It brings you updates from the world of trade and least developed countries (LDCs) in general and the EIF partnership in particular. ? This edition includes:
Enjoy the read!
NEW CONTRIBUTIONS TO THE EIF INTERIM FACILITY?
Since our last EIF Newsletter in September, we’re delighted to announce two new donors to the EIF Interim Facility – the United Arab Emirates and Liechtenstein, bringing the total to six donors?alongside Norway, Sweden, Finland, and the United Kingdom. As discussions progress on a future multilateral support mechanism for the LDCs, these contributions to the EIF Interim Facility reinforce ongoing efforts to support trade development in the most vulnerable economies.
United Arab Emirates
The UAE has contributed USD 4 million to the EIF Interim Facility, following its pledge at MC13. The contribution was formalized at a ceremony at the WTO on 17 September, attended by WTO Director-General Ngozi Okonjo-Iweala, the UAE’s WTO Representative and Minister Plenipotentiary Abdelsalam Mohamed A. Al Ali, and EIF Executive Director Ratnakar Adhikari. ? Read more here and watch the video of the ceremony here .
Liechtenstein
Liechtenstein has also joined the EIF Interim Facility as a donor?with a contribution of CHF 40,000. This contribution was confirmed at a meeting held on 16 October at the WTO, attended by Liechtenstein’s WTO Ambassador Frank Josef Büchel and EIF Executive Director Ratnakar Adhikari. Read more about the contribution here .
United Kingdom’s new instalment
Additionally, the United Kingdom has just made its second instalment to the EIF Interim Facility – advancing its instalment from 2025, by providing GBP 236,000 (nearly CHF 266,000). This follows an initial instalment, which you can read more about here .
?IN FOCUS: COP29??
The wait is over—COP29 is here! The world’s most influential climate summit kicked off Monday, 11 November in Baku, Azerbaijan, to accelerate action to tackle the climate crisis. With global temperatures hitting record highs, and extreme weather events affecting people around the globe, COP29 will bring together governments, business and civil society to advance concrete solutions to the defining issue of our time. ? The EIF will be at COP and, together with the International Institute for Environment and Development (IIED) and the ODI Global, will be hosting a high-level session titled “Advancing a Just Transition and Securing New Opportunities for LDCs.” Set for 21 November,?11:30-12:30 (Local time, Baku),? at the Trade and Investment House, this session will dive into how the LDCs can leverage trade to drive both climate and development goals amid evolving challenges and opportunities. From technology transfer to accessing new markets, the discussion will explore ways for the LDCs to achieve sustainable growth and resilience. Ministers from The Gambia, Zambia, and Sweden are expected to join the session and contribute with their perspectives.
Learn more about the event here .
In the lead-up to COP29, the EIF partnered with ODI and IIED for a preparatory webinar on 7 November. If you missed it, the recording is available here . In the webinar, a panel of experts discussed how trade and investment can help the LDCs transition to low-carbon economies. Some of the key themes discussed included:
And that’s not all—many partners will also be there, bringing their expertise and commitment to advancing climate solutions at COP29. We have here selected some events of particular relevance from a trade and LDC perspective. ? The WTO, in partnership with Azerbaijan’s COP29 Presidency, ITC, ICC, and UNCTAD, will for the first time host a Trade and Investment House, with pavilions in both the Blue and Green Zones. These spaces will offer high-level discussions, panels, and networking events focused on trade, investment, and climate solutions. ? A highlight will be the Climate Finance, Investment, and Trade Day on 14 November, where leaders will discuss how trade policies can enhance climate finance and support sustainable development.
LDC panellists are expected to join several sessions, including those on Policy Experiences Contributing to Climate FIT Action ?on 14 November from 15:30-16:30 (jointly organized by the WTO, UNCTAD, ITC and ICC) and Supporting the renewable electricity transition through trade: Unlocking re-globalization opportunities via interconnection on 15 November from 17:00-18:00 in the Trade and Investment House, Blue Zone, featuring Lao PDR and Zambia (jointly organized by the WTO and WMO). Learn more about all the WTO’s COP29 activities here . ? UNCTAD will host sessions at the Trade and Investment House ?at COP29, exploring key topics like innovation in climate action, critical minerals for energy, and priorities in climate finance. UNCTAD also just released the Least Developed Countries Report 2024 , which dives into how carbon markets could support sustainable growth in LDCs. The report shows that, while carbon markets offer promise in areas like forestry and agriculture, they currently fall short of the financing LDCs need. It lays out a roadmap for LDCs and their partners to make better use of these markets alongside other climate finance sources. ? Read more here and stay tuned for digital economy highlights from COP29 in the next edition of the UNCTAD eTrade for all newsletter . ? ITC will be spotlighting the role of small businesses in climate action at COP29. Through its Pavilion in the Blue Zone, ITC will connect MSMEs with global climate discussions, share new guidelines to help countries include MSMEs in their climate commitments, and present a report on the role of trade in renewable energy transition. ITC will also host panels, workshops, and support key COP29 initiatives like the Baku Initiative on Climate Finance. ? Find out more about ITC’s activities at COP29 . ? The World Bank Group will host a pavilion in Baku, in partnership with the IMF and the Financial Times. Attendees can join sessions both in person and online to explore critical topics around climate finance and development. ? Learn more about the World Bank’s pavilion programme here .
HIGHLIGHTS FROM THE 23RD EIF STEERING COMMITTEE MEETING?
The 23rd session of the EIF Steering Committee convened on 30 October 2024 at the WTO, marking the first meeting held under the EIF Interim Facility. Chaired by Finland Ambassador Heidi Schroderus-Fox, the meeting brought together key stakeholders to review the EIF’s long-term impacts and hear updates on the ongoing discussions around a future multilateral support mechanism for the LDCs.
The meeting included a re-cap of key decisions from the recent EIF Board meeting on 23 October, by Chair of the EIF Board, Kokou Yackoley Johnson, Ambassador of Togo. The Committee also heard from the Co-Chairs of the Taskforce on LDC trade-related assistance: Baturu Camara, Counsellor, Permanent Mission of The Gambia, Laura von Saint André, Counsellor, Permanent Mission of Germany, and Jodie Keane from ODI, who is supporting the Taskforce’s work.
A special session on LDC Impact in Focus, opened by Kadra Ahmed Hassan, WTO LDC Group Coordinator and Ambassador of Djibouti, as well as Ambassador of Sweden to the WTO, Nina Tornberg, highlighted the EIF’s contributions to resilience, inclusive growth, and support for women, MSMEs, and digital transformation in LDCs. Coordinators from the EIF Executive Secretariat then shared key achievements on themes essential to the EIF, including through the following examples:
RECENT SNAPSHOTS FROM LDCS?
Comoros charts path forward post-WTO accession
Three months after officially joining the WTO on 21 August 2024, Comoros gathered public and private sector leaders in Moroni from 4 to 6 November for a National Awareness-Raising Workshop to kick off the country’s WTO post-accession strategy. Opened by President Azali Assoumani, the workshop presented the strategic plan, developed together with the WTO, to help Comoros meet its accession commitments, streamline notification processes, and boost competitiveness. Participants discussed key reforms, identified support measures, and explored ways to tap into new trade opportunities. The EIF participated in the workshop as part of a joint mission with the WTO's Accession Division and Institute for Training and Technical Cooperation, and will continue to support Comoros in its post-accession work going forward. ? Read more here (in French).
Haiti modernizes business registration and trade frameworks
On 31 October, Haiti’s Minister of Commerce and Industry, James Monazard, launched a digital platform for business name registration and availability searches (Plateforme numérique d'enregistrement de nom commercial et de recherche d'antériorité) and led a workshop on trade and investment legal frameworks. Supported by the EIF, this platform allows entrepreneurs to register their businesses online and receive certificates via email, significantly speeding up the registration process. The workshop also introduced a legislative agenda aimed at strengthening Haiti’s legal trade framework, aligning business regulations with international standards and fostering growth for small and medium enterprises. ? Read more here (in French) and watch this video for additional details.
South Sudan advances trade with new Competition and Consumer Protection Bill
In October, South Sudan validated its Competition and Consumer Protection Bill 2023, a milestone aimed at enhancing trade and safeguarding consumer rights. Finalized with support from the Ministry of Trade and Industry, UNDP and the EIF, the bill promotes fair competition to empower local businesses, particularly MSMEs, and drive sustainable growth. Once enacted, this legislation is expected to boost competitiveness, attract foreign investment, and support South Sudan’s integration into global trade networks. ? Read more here .
HIGHLIGHTS FROM THE EIF TRADE FOR DEVELOPMENT NEWS?
Don't forget to have a look at our Trade for Development News platform , where we frequently publish articles, stories and op-eds focusing on trade and development in the LDCs.
Mainstreaming environment in trade capacity-building: Pathways and progress
Summary: From extreme storms to coastal flooding, the LDCs are disproportionately affected by the impacts of climate change. More than two-thirds of climate-related disaster fatalities worldwide have occurred in these nations. This is why environmental sustainability is a cross-cutting issue that has been central to the trade capacity-building agenda of the EIF. ? CONTINUE READING ?
?? ???Recently published Impact Stories??????
Vanuatu Impact story: A record of first-place achievements against the odds
Summary: Since 2013, the year after Vanuatu's accession to the WTO, the EIF has invested approximately USD 6.5 million in Vanuatu to strengthen institutional capacity for trade, revive the tourism sector and enhance trade facilitation.... ? CONTINUE READING ?
Central African Republic Impact Story: Peace dividend bringing steady gains for a country in recovery
Summary: The Central African Republic is testing the potential for achieving lasting peace through trade for development to improve livelihoods and build a better future for this and coming generations. A partnership between the Government of the Central African Republic and the EIF has methodically worked to improve productivity and build institutions to support pro-poor trade, with the goal of rebuilding the economy and achieving peace. ? CONTINUE READING ?
Rwanda Impact Story: Transforming Rwanda through trade expansion
Summary: Since 2009, the EIF has supported Rwanda’s development initiatives with a focus on export diversification, increased regional integration of exports, women’s economic empowerment and e-commerce. Support was extended to several projects working to improve the livelihoods and earning potential of informal and formal cross-border traders. ? CONTINUE READING ?
UPDATE FROM PARTNERS?
Save the Date: WTO Conference on AI and International Trade – 21 November 2024
Join the WTO’s upcoming event, “How AI Shapes and Is Shaped by International Trade,” on 21 November 2024, from 10:00 to 18:00 CET in Room W (hybrid format). The conference will launch a new WTO report on AI and international trade, setting the stage for a full day of discussions on AI’s transformative role in productivity, innovation, and trade cost reduction. With sessions covering AI’s impact on services, customs, agriculture, intellectual property, and global trade governance, the event will gather policymakers, industry experts, and academics to address both the opportunities and risks of AI in trade. Among the speakers will be Felix Mutati, Zambian Minister of Technology and Science, who will participate in the session titled "How can the WTO and other International Organizations support the deployment of AI while mitigating its risks?". View the full programme and register here .
WTO World Trade Report 2024: Trade and Inclusiveness – How to Make Trade Work for All
The WTO has released its World Trade Report 2024 , highlighting how trade has helped reduce income gaps between countries over the past 30 years. This year’s report shows that countries with strong trade engagement experience faster growth, helping close the income divide with wealthier countries. However, it also points out that some economies, particularly LDCs reliant on commodities, have been left behind. To address this, the report calls for a balanced approach—combining open trade with supportive policies like job training, better infrastructure, and digital access—to ensure trade’s benefits reach all. Read more and download the report here .
World Bank and IMF Annual Meetings 2024
The 2024 Annual Meetings of the IMF and World Bank, held in Washington, D.C. between 25 and 27 October, focused on transforming the World Bank to address global challenges more effectively. Significant announcements included plans to double annual agribusiness investments to USD 9 billion by 2030, aiming to enhance food security and stimulate economic growth. Additionally, the Bank set ambitious gender equality targets, focusing on expanding women's access to broadband, social protection, and capital, thereby fostering inclusive development and resilience in low-income countries. Amongst the participants at the event was the Zambian Minister of Finance, Situmbeko Musokotwane, who highlighted the World Bank Group's increased responsiveness to country needs, noting a shift towards more collaborative engagement. ? Read more here and here from the Annual Meetings.
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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