Unlocking FDI development gains through facilitation

The World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) holds enormous promise to gear up trade flows. WTO estimates suggest successful implementation of the TFA could reduce trade costs by 14%, which in turn could raise global goods exports by US$ 1 trillion a year – potentially boosting the world economy at a time of flagging growth. What is more, the body’s World Trade Report found that developing countries stand to capture more than half those gains, a ramification with significant implications for international development efforts.