WTO chief lauds Vietnam's poverty reduction accomplishments

World Trade Organisation Director General Roberto Azevedo has described Vietnam as an example of poverty alleviation at the recent launch ceremony of the book “The Role of Trade in Ending Poverty” jointly compiled by the WTO and the World

World Trade Organisation (WTO) Director General Roberto Azevedo has described Vietnam as an example of poverty alleviation at the recent launch ceremony of the book “The Role of Trade in Ending Poverty” jointly compiled by the WTO and the World Bank Group (WBG). 

He noted that between the early 1990s and 2012, the share of trade in Vietnam’s GDP doubled. At the same time, the extreme poverty rate dropped from more than 60% to under 3%. 

“That is trade changing people’s lives for the better,” he stated while underlining the stronger linkage between trade and development. 

Trade continues to play a crucial role in economic growth in the years ahead, he said.

He and WBG President Jim Yong Kim agreed the two organisations will continuously work for a common goal of boosting economic development and improving the livelihoods of people across the globe.

They also suggested that countries should ensure trade supports everyone, particularly the most impoverished, to alleviate poverty. 

Currently, nearly 1 billion people are still living on less than US$1.25 each day, accounting for around 15% of the world population.