Trade facilitation

Trade facilitation refers to the simplification, standardization and harmonization of procedures and associated information flows required to move goods from seller to buyer and to make payment. In simple terms, trade facilitation should streamline customs procedures in order to reduce the time and cost to trade -- essentially, cut the “red tape” at the border. Trade facilitation is a vehicle for economic growth, increased trade competitiveness, deeper regional integration and a better insertion of developing countries into the regional and global value chains.