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English, PDF, 357kb
This brand new report from the OECD examines the potential impact of the WTO Trade Facilitation Agreement concluded in Bali on trade costs.
To help governments improve their border procedures, reduce trade costs and boost trade flows, OECD trade facilitation indicators identify areas for action in 133 countries and enable the potential impact of reforms to be assessed.
As the OECD's latest global economic forecast has confirmed, world trade is now growing at an extremely low rate. This brings into stark focus the need for trade negotiators at the WTO to cut a deal to bring a much-needed boost to world trade and the global economy.
English, PDF, 438kb
English, PDF, 172kb
The Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union, if successfully concluded, would be the most significant bilateral Free Trade Agreement (FTA) to date, covering approximately 50% of global output, almost 30% of world merchandise trade (including intra-EU trade, but excluding services trade) and 20% of global foreign direct investment.
The costs of putting in place and maintaining trade facilitation measures are not particularly large and are far smaller than the benefits gained from implementing these measures, according to this study. Moreover, an increasing amount of technical and financial assistance to implement these measures has been made available to developing countries over the last decade.
The costs to implement and maintain trade facilitation measures are not large and far smaller than the benefits gained from implementing these measures, according to this study. Moreover, an increasing amount of technical and financial assistance to implement these measures has been made available to developing countries over the last decade.
Multilateral agreement to cut red tape in international trade would dramatically reduce trading costs and add a substantial boost to the global economy, according to new OECD research.
Inefficient, outdated and complex trade procedures and formalities prevent businesses from taking full advantage of open global markets.
Drawing on OECD trade facilitation indicators, this paper finds that the combined effect of comprehensive trade facilitation reform would reach almost 14.5% reduction of total trade costs for low income countries, 15.5% for lower middle income countries and 13.2% for upper middle income countries.