11 Jan Stephen Metcalfe MP Wants Developing Countries to Trade their Way out of Poverty
Stephen Metcalfe, Member of Parliament for South Basildon and East Thurrock, pressed the Department for International Trade today (11/01/18) in the Chamber to boost the capacity of developing countries to trade their own way to growth. Watch here
Commenting, Stephen said: “Whilst strongly supporting the principle of international aid, it is no substitute for a nation developing its own economy. This is often best done through trade.
I am aware many people are concerned at the amount we spend on international development and how that money is spent. If our long term goal is to reduce the need for aid than we must use all the tools available to us to support poorer nations while also re-establishing our global trading credentials”.
Last month the UK Government announced an £18 million spend on the World Trade Organisation’s EIF Programme which helps some of the world’s poorest governments to build business capacity, infrastructure and polices to successfully trade and export their way out of poverty.
“It is vital that the UK Government builds on its practical steps taken back in December to help the world’s poorest countries produce commodities fit for trade and export. Through more targeted aid we can increase the capacity of poor countries to trade their way to sustainable growth. This can help alleviate global poverty and save money for the British taxpayer in the future”.
