A Very British Dossier on Trade and Poverty

DFID has released a dossier on why trade really matters in the fight against world poverty. Some quotes from the report;

- The EU, for example, underwrites its fishing industry by about £500 million a year, more than a quarter of which goes to support 850 vessels to fish outside EU waters, threatening African fisheries. African countries can get income from allowing European boats to fish African waters, but deals are often badly negotiated, sometimes netting a royalty of less than 1% of the catch value.

- If EU and US cotton subsidies were removed, cotton exports from sub-Saharan Africa could increase by up to 75%.A pound of cotton can be produced for 12 pence in Burkina Faso compared with 42 pence in the US.

- For example, fruit and nuts imported into the US can have a tax of 200% slapped on them, and for meat brought into the EU this can be as much as 300%. People in Japan or Korea buying imported rice may pay a tax of 10 times the original price of the rice.

- Trade may be the single most potent tool in the fight against poverty, but it won’t work in isolation. The Commission for Africa estimated that we need to provide up to £12 billion a year to get developing countries on the road to becoming global trading partners

Some thing not in the report; African Union estimates that corruption costs Africa 148 billion dollars a year.

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This page contains a single entry by Paul published on May 17, 2006 12:37 AM.

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