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This report discusses the benefits of trade facilitation - meant to promote transparent, predictable and straightforward border procedures so as to expedite the movement of goods. The OECD Trade Facilitation indicators provide a powerful tool for assessing the impact of related reforms and moni
This book is an important contribution to the policy debate on the future of regional integration around the world, and in Asia in particular. The complex linkages between regional integration and regional cooperation, soft and hard integration, trade facilitation and regional infrastructure are all addressed competently in different chapters of this publication, which should be read by all of those concerned with the future of regional integration and cooperation in Asia. Antoni Estevadeordal, Inter-American Development Bank (IDB) As we emerge from the worst global economic setback in two generations, the momentum of Asian economies suggests that this region will redefine the geography of trade and growth even more quickly and decisively than expected. Because Asia offers the largest emerging markets, superior growth rates, and new patterns of trade diversification, this region is becoming the leading edge of the global economy for the next generation. This volume addresses the essential issues related to Asian trade and regionalism with intellectual authority and essential timeliness. Brooks and Stone have assembled leading experts, distilled evidence, and synthesized policy lessons on the salient issues and trends that will drive the world s most dynamic economic region. Their book should be a desk reference for policy-makers and leading private sector players who want to respond effectively to the momentous challenges and opportunities presented by the Asian century. David Roland-Holst, University of California, Berkeley, US This insightful book collects empirical analyses and case studies to clarify issues and draw policy recommendations for facilitating greater regional trade through increased cooperation. Asia s rapid development has been heavily dependent on markets external to the region. However, given the unlikely timely recovery of the United States or Europe there is an urgent need to develop domestic and regional markets. While greater integration has long been a regional goal, its importance has never been more pressing. To facilitate trade and promote growth and regional integration, and to counteract declining markets in other regions, Asian countries have announced large expenditures for developing infrastructure. Thus, a look at how investment in regional infrastructure promotes and supports interregional trade growth has never been timelier. While the focus is on informing policy-making in Asia, the findings also have relevance for other regions. The detailed studies in this book will be of particular interest to academic economists, policy-makers, and the broader development community.
This book for the first time introduces trade facilitation, a measure that improves the capabilities of business, trade, and administrative organizations. The concept is explained through examples, theory, organizations involved, their development impacts, and implementation problems.
The World Trade Organization (WTO) has a role to play in strengthening the global trading system for development, primarily by lowering barriers to trade in goods and services and ensuring that trade rules are useful to Developing countries. But greater international cooperation must complement WTO-based negotiations, in particular, concerted action outside the WTO to enhance the trade capacity of poor countries ("aid for trade").
Negotiations on trade facilitation were concluded at the WTO 9th Ministerial Conference in 2013, and the Agreements on Trade Facilitation (TFA), therefore, became the first fully multilateral agreement in WTO history. Since then, trade facilitation has been in the limelight on the stage of the world trading system. During recent years, the TFA has been consistently on the agenda of the summits of G20, G7, and APEC. The Agreement has come into force and shall be implemented on a global scale. As a result, the WTO members shall be prepared to translate the Agreement into their domestic legislation, which will involve a series of reforms in trade laws and policies. There are extensive voices demanding a comprehensive expatiation on trade facilitation and the TFA. It is essential to systematically delve into the genesis of trade facilitation, revisit the course where the TFA came into being, and analyse the well-turned legalese of the TFA. This book meets this demand. This book is path-breaking in these aspects: it expounds on the rationales for trade facilitation and the significance of constituting an international accord on trade facilitation; it restores the one-century track of the international community’s talks on trade facilitation, from the times of the League of Nations to the WTO era; it reveals how the WTO negotiating mechanisms enabled the TFA to be nailed down, which would be enlightening for trade diplomats engaged in other WTO negotiations; and it provides an in-depth commentary on the TFA articles, which will help stakeholders more accurately understand and implement the Agreement. This book will be especially valuable for government officials and policy-makers, trade practitioners, lawyers, advisers, and scholars interested in international economic law, WTO law, international trade, international relations, and international development studies.
"Trade integration can play a much larger role in boosting shared prosperity. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. The opportunities provided by information technology and other fundamental changes in the global economy are yet to be reflected in modern areas of trade policy, such as services and electronic commerce. Greater openness in these areas would promote competition, lift productivity, and raise living standards. In many other areas, such as the rural economy, smaller enterprises, and women’s economic empowerment, trade-related reforms are important particularly to foster more inclusive growth. Harnessing flexible approaches to WTO negotiations may be the key to reinvigorating global trade reform. Despite the benefits at stake—and with important exceptions such as the WTO Trade Facilitation Agreement—trade reform has lagged since the early 2000s. For much of this period, governments focused their efforts in the WTO on a single negotiating approach. Now, as groups of WTO members pursue joint initiatives in several areas, attention is turning to how other negotiating approaches—including some used effectively in the past—can be leveraged so that trade once again plays its full role in driving increased global economic prosperity. Building greater, more durable openness—this paper’s focus—should be part of a broader effort to strengthen and reinvest in the global trading system. The system of global trade rules that has nurtured unprecedented economic growth across multiple generations faces tensions. Though only recently brought to the fore, those tensions are rooted in issues that have been left unresolved for too long. Governments need to promptly address outstanding questions involving, for example, the WTO dispute system and the reach of subsidy disciplines. Cooperative action to secure greater openness—an imperative in its own right—could also help to resolve these"