A comparative analysis of trade facilitation in selected regional and bilateral trade agreements and initiatives

Trade facilitation has become a major concern for policy makers wishing to increase the gains from trade. Reduction of trade barriers such as tariffs and quantitative restrictions, which had been achieved in the General Agreement on Tariffs and Trade (GATT) rounds of multilateral trade negotiations, raised the profile of the remaining behindand at-theborder trade costs. At the same time, technological developments have raised prospects for a paperless customs clearance environment and exchange of trade-related information, often discussed under the rubric of Electronic Data Interchange (EDI), which increases the potential gains from trade facilitation and suggests a need for common standards. The increased attention that has been given to trade facilitation in recent years is evident not only in regional trading arrangements around the world but also in specific Asia-Pacific regional agreements and initiatives.