By TIOL News Service

GENEVA, JULY 05, 2017: AS per economists from the ILO and the WTO, improving the skills of a country’s workforce lifts the export performance of its enterprises and better prepares them to meet foreign competition in the domestic market.

A joint ILO-WTO study, “Investing in Skills for Inclusive Trade”, shows that boosting core work, technical and management skills can help countries and businesses meet the challenges of an ever more competitive global economy by reducing costs and improving the quality of products.

The authors point to evidence that countries with responsive skills development systems tend to be more successful in putting skills to use in tradable activities and thereby improving that country’s competitive position in the global economy.

“While trade has helped lift hundreds of millions of people out of poverty and been a crucially important tool for growth, development and job creation there are those who have been left behind. Improving the capacity of our workers and managers to respond to these changes is clearly the best way to foster more inclusive trade,” said WTO Director-General Roberto Azevêdo. His full remarks are available here.

“Providing the right skills is essential to reap the benefits of trade in increased productivity and better jobs, and to ensure that trade contributes to inclusive development. In a fast changing world of work it is more important than ever that skills development responds to current and emerging skills needs, enhancing outcomes for workers and firms both now and in the future,” said ILO Director-General Guy Ryder.

The need for improving skills is present in both developed and developing countries as they seek to adapt to and find opportunities in a global economy which is going through a profound transformation, driven by political changes and the forces of trade integration and technological progress.