Maven doesn't have any knowledge of things that are not declared in the pom.xml
so, yes, you have to declare smartgwt in the POM. Actually, the common way to work with Maven and IDEs is to add things in the POM and to generate or derive things at the IDE level from the POM. In the case of Eclipse, this can be done using the maven-eclipse-plugin or M2Eclipse (the later would be my recommendation here and supports bi-directional actions).
Having all that said, the fact is that smartgwt isn't distributed in Maven central repository so you'll have to add its repository (where to find it) and the dependency.
<project>
...
<repositories>
<repository>
<id>SmartGWT</id>
<url>http://www.smartclient.com/maven2</url>
</repository>
</repositories>
...
<dependencies>
<dependency>
<groupId>com.smartgwt</groupId>
<artifactId>smartgwt</artifactId>
<version>2.1</version><!-- or whatever version you're using -->
</dependency>
...
</dependencies>
</project>
The smartgwt project somehow provides some (outdated) documentation in HowToEclipseGWTMaven.