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Trade Facilitation and the Global Economy

image of Trade Facilitation and the Global Economy

In a globalised world, where goods cross borders many times as intermediate and as final products, trade facilitation is essential to lowering overall trade costs and increasing economic welfare, in particular for developing and emerging economies. Facilitation efforts undertaken by various countries around the world also show that the benefits of such measures clearly compensate the costs and challenges posed by their implementation.

 

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Costs and challenges

This chapter highlights key costs and challenges in implementing trade facilitation reforms, from initial financial investments to the sustained policy commitment to adopt and maintain measures over the long term. It draws on reviews of experience in 24 developing and emerging economies to present evidence on the nature of the costs and how they compare with the benefits from implementing trade facilitation reforms.

English

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