Improving efficiency of trade

Promoting export trade efficiency
Developing efficient import trading system
Improving efficiency of domestic markets

Description

Improving efficiency of trade involves streamlining procedures, reducing barriers, and enhancing infrastructure to facilitate faster, more reliable, and cost-effective movement of goods and services across borders. This strategy targets bottlenecks such as complex regulations, inadequate logistics, and inefficient customs processes. By implementing standardized documentation, digital platforms, and coordinated policies, it remedies delays, lowers transaction costs, and increases competitiveness, ultimately fostering economic growth and broader access to markets for businesses and consumers.

Context

Trade efficiency can be improved by promoting the policy framework and the infrastructure required to improve the efficiency of export and import trade as well as the functioning of domestic markets, and by supporting efforts of developing countries in this respect.

Implementation

This strategy features in the framework of Agenda 21 as formulated at UNCED (Rio de Janeiro, 1992), now coordinated by the United Nations Commission on Sustainable Development and implemented through national and local authorities.

The Trade Efficiency Initiative was launched in 1992 by 171 countries represented at the UN Conference on Trade and Development in Cartagena. The main objective is to open international trade to new participants, especially small- and medium-sized enterprises, by simplifying and harmonizing trade procedures worldwide and giving traders access to advanced communication technologies and information networks. The Initiative responds to an urgent need to increase the international awareness and effective application of information technologies to trade and to promote the use of techniques capable of of reducing procedural costs in international trade.