Benefits of trade facilitation as a simpler procedure for world trade growth

Miteva-Kacarski, Emilija and Gorgieva-Trajkovska, Olivera (2011) Benefits of trade facilitation as a simpler procedure for world trade growth. In: Economics and Management in the 21-st Century-Solutions for Sustainability and Growth. Tsenov Academic Publishing House, pp. 188-194. ISBN 978-954-23-0679-5(t.3)

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Abstract

“The simplification and harmonisation of international trade procedures” where trade procedures are the “activities, practices and formalities involved in collecting, presenting, communicating and processing data required for the movement of goods in international trade” is trade facilitation according the WTO. Trade facilitation initiatives benefit both the business community and governments. The business community benefits by obtaining enhanced competitiveness in national and international markets due to reduction in delays and costs which are achieved with predictable and efficient movement of goods across borders.
Trade facilitation is particularly important for developing countries, as studies show they stand to gain the most from more efficient trade procedures, although achieving it may be more challenging for these economies than for the developed world.
But even modest reductions in the cost of trade transactions would have a positive impact on trade for both the developed and the developing world.
Keywords: trade facilitation, simplification, harmonisation, standardization, “hidden” costs of trade, WTO
Jell classification: F13

Item Type:	Book Section
Subjects:	Social Sciences > Economics and business
Divisions:	Faculty of Economics
Depositing User:	Olivera Trajkovska
Date Deposited:	06 Dec 2012 14:10
Last Modified:	06 Dec 2012 14:10
URI:	https://eprints.ugd.edu.mk/id/eprint/3144

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