Trade Liberalization and Its Implications for Business

Boskov, Tatjana (2020) Trade Liberalization and Its Implications for Business. In: Globalization, Trade Liberalization and Business Dynamism. Lap Lambert Academic Publishing, Germany, pp. 11-20. ISBN 978-620-281-437-9

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The advancement of the international trade system does not require new
comprehensive multilateral agreements. Countries can benefit greatly from the trade
system by introducing trade facilitation reforms. In a broader sense, trade facilitation
includes reforms aimed at improving the chain of administrative and material
procedures involved in transporting goods and services across international borders.
Countries with inadequate trade infrastructure, cumbersome administrative
processes, or limited competitiveness in trade and logistics services are less likely to
benefit from opportunities such as the expansion of global trade.
Companies interested in investing, buying, and selling in local markets are
likely to be concerned if they already face many conflicts related to paperwork or
cargo inspection of customs, outdated entry facilities, inefficient logistics, or low
security of cargo and trade-financial services.
According studies by World Bank and other international economic
institutions, trade facilitation reforms may increase trade flows in line with tariff
For many developing countries, especially those receiving preferential
tariff treatment from rich countries — reducing transport and logistics costs through
trade facilitation reforms — will benefit even more through tariff reductions. Trade
facilitation is not just a promise for developing countries. All countries can benefit
by eliminating sources of conflict in the supply chain.

Item Type: Book Section
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Tourism and Business Logistics
Depositing User: Tatjana Boskov
Date Deposited: 08 Feb 2021 09:12
Last Modified: 08 Feb 2021 09:12

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