Trade and Competitiveness

(See also Global Practices.) One of 14 new World Bank Group Global Practices, Trade and Competitiveness brings together more than 500 leading technical experts in the field of trade, investment, innovation, and private sector development, with extensive policy expertise, sector-specific knowledge, and practical experience in implementation.

Spurring the creation of sustainable jobs is fundamental to the World Bank Group's goals of eliminating extreme poverty and boosting shared prosperity. The joint Trade and Competitiveness

The Georgia Regional Development project aims to help develop a tourism-based economy in the Kakheti region while also promoting the area

The Georgia Regional Development project aims to help develop a tourism-based economy in the Kakheti region while also promoting the area's cultural heritage. The project has upgraded the water supply system, sewage networks, lighting systems, and several city parks in the region. © World Bank. Permission required for reuse.

Global Practice (T&C) provides a comprehensive array of solutions to support the efforts of client governments to boost trade and investment, to improve productivity and competitiveness at the national and industry levels, and to create a better environment in general for business operations. T&C works with governments to design policies that promote private sector growth, while helping them identify and remove impediments to the smooth functioning of markets.

More than 1.5 billion people—especially women and young people—are jobless or underemployed. Within 15 years, 600 million new jobs must be created to keep up with the surging global population. The private sector must create 90 percent of those new jobs. A vibrant private sector is the most important engine of economic growth and is thus a key driver of poverty reduction. Both least-developed and middle-income countries face an array of challenges in their efforts to establish an enabling environment to support the emergence of an innovative, inclusive, and globally competitive private sector: trade and investment policy barriers, as well as lack of innovation, keep firms and industries from accessing market opportunities that arise from newly emerging trade patterns; domestic regulatory frameworks may hinder investment and competition and raise barriers to productive, job-creating investments; and market failures may restrict the prospects for firm entry and growth. Infusions of money from donor countries and international institutions will not, by themselves, solve the problem. Strengthening a country's position in trade and competitiveness is critical to helping it achieve economic growth.

The Trade and Competitiveness Global Practice offers an integrated package of solutions—including policy advice, technical assistance, financing, and capacity building—the Practice brings global knowledge to the design and implementation of projects tailored to the specific needs of client countries, whether fast-growing emerging economies, middle-income countries, or fragile or conflict-affected situations. With global specialists constituting half of its staff members and the other half serving in the regions, T&C has a wide footprint across the globe. Using different instruments, T&C delivers tailored, integrated solutions from diagnostics through implementation.

 
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