“Firms, workers and disruptive technologies – ensuring sustainable and inclusive growth”; this will also be an opportunity to assess the extent to which the forum has helped uncover the factors behind the productivity slowdown.
The OECD will release its latest analytical work on trade facilitation. Trade Facilitation and the Global Economy presents key findings on the state of trade facilitation reforms around the world, and shows why and how trade facilitation can contribute to lowering trade costs and increasing economic well-being.
As income inequality has increased since the 1990s, social mobility has stalled, meaning that fewer people at the bottom have moved up while the richest have largely kept their fortunes. This has severe social, economic and political consequences, according to a new OECD report. A Broken Social Elevator? How to Promote Social Mobility says that given current levels of inequality and intergenerational earnings mobility, it could take at least five generations or 150 years for the child of a poor family to reach the average income, on average across OECD countries.
The unity and renewal of the African continent must be pursued together with efforts to transform the global system, International Relations and Co-operation Deputy Minister Luwellyn Landers said on 18 June. “Humanity can thrive when their collective and individual interests and aspirations are responded to and the BRICS formation is titling the balance of forces to ensure exactly that.”
Tariff reduction negotiations were thrashed out at the seventh Tripartite Sectoral Ministerial Committee in Cape Town on 20 June. “The ministers agreed on the urgency to conclude outstanding issues – under Phase 1 of the negotiations – to facilitate the implementation of the Tripartite Free Trade Area Agreement,” said the South African Department of Trade and Industry.
There was also another round of bilateral negotiations between the East African Community and the Southern Africa Customs Union.
Consensus had been reached and a communiqué agreed upon at the G20 Meeting of Energy Ministers, representatives of the troika (Germany, Argentina and Japan) said. The G20 affirmed their commitment to energy transitions that move towards cleaner, more flexible and transparent systems.
The GEGAfrica project has been funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies.