Trade facilitation has the potential to benefit and transform businesses, opening up new markets or streamlining global supply chains. Some facts and figures to illustrate the “TFA prize”:
- The TFA could add up to 0,5% a year to world GDP growth.
- Exports could be boosted by up to USD730 billion per year as developing countries are able to diversify their economies
- 20 million new jobs could be created through the implementation of the TFA.
- Trade costs could be reduced by an average 14.3% for WTO members.
- 7% of the global value of trade is absorbed by the costs of documents alone.
There is widespread recognition that the private sector has a key role to play in identifying trade facilitation challenges and areas ripe for reform. Who better to know what the bottlenecks are than businesses that experience red tape at borders and are affected by unnecessary delays, high costs and lack of transparency on a daily basis.
There are several guides available to help businesses better understand and capitalise on the unique opportunity the TFA represents. For a brief overview of the main provisions in the TFA and what they mean for business, the Alliance has created A Simple Guide available in English, French and Spanish. The International Trade Centre’s (ITC) 2013 guide, WTO Trade Facilitation Agreement: A business guide for developing countries, offers a good historical overview of the TFA, why it came about and its significance, presents the main provisions of the agreement and explains how business can help shape the way governments implement their TFA commitments.
A subsequent ITC guide published in coordination with ICC and various UN agencies in 2015, SMEs and the WTO Trade Facilitation Agreement: A training manual, explains the TFA’s provisions in greater detail, outlines practical steps businesses can take to capitalise on these provisions and proposes questions to encourage public-private dialogue.
International Trade Center
WTO Trade Facilitation Agreement: A business guide for developing countries
(PDF, 2,5 Mb)
ITC, ICC, et al,
SMEs and the WTO Trade Facilitation Agreement: A training manual (PDF, 3,8 Mb)
Global Alliance The trade facilitation agreement
A simple guide
(PDF, 180 Kb)