WASHINGTON, DC - A long-held tenet of international-trade theory is that, in the long run, increased trade correlates with faster GDP growth. But the challenge - which my institution, the World Bank, is working to overcome - is to ensure that trade-driven growth benefits the poor.
That is why the heads of seven multilateral institutions, including the World Bank, strongly supported the push for the trade-facilitation agreement that was reached earlier this month at the World Trade Organization's ministerial conference in Bali.
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