Giving Compass' Take:

• Devry Boughner Vorwerk argues that trade is an essential component of development because it creates a flow of goods, services, and knowledge.

• How can trade be fostered and encouraged by philanthropy? What are potential pitfalls of trade for developing countries? 

• Learn about the impact of trade agreements on global food markets. 

Across the world, developed and developing countries alike are advancing their commitments toward the United Nations Sustainable Development Goals. From health, education, and women’s empowerment to no poverty, life on land, life below water, and sustainable consumption, the ambitious agenda of the SDGs is creating opportunities for all countries and all people.

But there is one action within the SDG framework that has been underestimated: That action is trade. Trade keeps goods, services, and capital flowing.

That’s because trade can be counted on to do a number of things:

  1. Encourage cooperation.
  2. Circulate knowledge.
  3. Provide access to new opportunities.
  4. Generate shared benefits.

Together, the development community needs to leverage the connections created by trade to help us achieve our targets across all of the SDGs. Trade builds peaceful and constructive relations among governments and people. When we understand and advocate for the role of trade in our sustainable development efforts, we enhance our ability to spread prosperity and peace to communities around the world.

Read the full article about trade and development by Devry Boughner Vorwerk at Devex International Development.