Economics & Investment
Sustained and inclusive economic growth and investment can drive sustainable development, create decent jobs for all, and improve living standards. However, roughly half the world's population still lives on the equivalent of about USD 2 a day. In too many places, having a job does not guarantee an escape from poverty. Slow and uneven progress in this area requires rethinking and retooling economic and social policies aimed at eradicating poverty.
More progress is needed to increase employment opportunities, reduce informal employment and the gender pay gap, and promote safe and secure working environments to create decent work for all. At the same time, private and public investment can be a powerful sustainable development enabler. If delivered in the right way, it can create jobs, build skills, spur innovation, provide essential infrastructure and services, and boost economic growth. More investment on its own is not enough. Tapping the sustainable development potential of investment means increasing the capacity of the local economy and the public sector, reforming framework conditions to make countries attractive investment destinations, and promoting responsible business conduct along the length of global supply chains.
Events and Articles
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1st Ministerial Conference of the World Trade Organization (WTO)
During the first Ministerial Conference of the World Trade Organization (WTO), which met in Singapore from 9-13 December 1996, delegates took stock of the operation of the rules-based multilateral trading system, addressed issues regarding implementation, and determined the future course of activities of the WTO.
Achievements of the first Ministerial Conference included the completion of the Information Technology Agreement (ITA) and the adoption of the Comprehensive and Integrated Plan of Action designed to lend further assistance to the least developed countries in accessing and sharing the benefits of the rules-based multilateral trading system. Exhaustive discussions took place on core labor standards, investment and competition policy, and, to a lesser extent, government procurement and implementation of agreements on agriculture and textiles. New working groups were established to examine the relationship between trade and the areas of investment, competition policy and government procurement. In addition, the Committee on Trade and Environment was established as a permanent body of the WTO.