This report was presented at the Ministers Responsible for Trade Meeting in Qingdao, China, in May 2014. It highlights that despite a slowdown in exports growth in early 2014, trade and investment are still projected to pick up in 2014 and 2015. Recovery in the world’s developed economies is expected to lead to higher consumer demand, which encourages trade and investment. However, downside risks still remain. Persistently high unemployment in Europe and the possibility of continued financial market volatility in developing economies can weigh down the expected rise in consumer demand.