Trade Facilitation from a Developing Country Perspective
- Topics:
- WTO
- Tags:
- Developing Country,
- Facilitation,
- Finance,
- Free Trade
- Source:
- Harvard Knowledgebase
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Overview: Trade facilitation is an essential dimension in economic development in today’s globalised world, especially from a developing country perspective. Developing countries normally have more cumbersome trade procedures, are more dependent on healthy environment for SMEs and are more dependent on Customs revenue collection and FDIs. It simplifies, increases security, and lowers the cost of complying with, rules and procedures for both governments and businesses. Any facilitatory reform must thus be adapted to the trade environment of each specific country. It is still essential that each trade facilitatory reform is based on globally accepted standards, rules, and methods. It has been seen that four key elements are present for a successful trade facilitation process: A strong political will; a clear strategic plan; a close co-operation with the business community; and a well-funded and long-term technical assistance programme based on a partnership between donor and recipient. Thus, trade facilitation is more than Customs facilitation and even if it often is within the Customs sphere that the need and benefits of facilitation initially are the highest in developing countries, it is imperative that the whole trade chain is encompassed.
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Format: PDF | Size: 459KB | Date: Jan 2003 | Pages: 34
