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Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

book cover

South-South Trade: Winning from Liberalisation

Australian Government Department of Foreign Affairs and Trade

ISBN 1-920959-07-6

5 June 2004

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South-South Trade: Winning from Liberalisation (PDF - 485 KB)

Overview

Developing economies have set about liberalising their trade over recent years, underpinning strong developing country trade growth. South-South merchandise trade grew twice as fast as world trade over the past decade, assisted by developing country tariffs that are now around one-third of their 1983 levels. However, developing country tariffs remain well above developed country rates. Average applied ad valorem tariffs are more than three times the level of those in industrial countries. Developing countries also have a significant incidence of ‘tariff peaks’. Around 70 per cent of tariffs faced by developing country exporters are applied by other developing countries.

Developing countries are taking advantage of global production chains as trade barriers fall. Foreign investors will increasingly tend to bypass those countries with high trade barriers.

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Department of Foreign Affairs and Trade