World Trade Report 2015

Speeding Up Trade: Benefits and Challenges of Implementing the WTO Trade Facilitation Agreement

image of World Trade Report 2015

The World Trade Report 2015 examines why the Trade Facilitation Agreement is so important, what its economic impact is projected to be, and how the WTO is taking a number of important – and novel – steps to help countries to maximize its benefits.

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Estimating the benefits of the Trade Facilitation Agreement

This section provides quantification of the various channels through which trade facilitation reform, and in particular implementation of the Trade Facilitation Agreement (TFA), can benefit the global economy. First of all, estimates of how much the implementation of the TFA could reduce trade costs are provided, and the group of countries and regions that may see the biggest reductions is identified. Further, estimates of the effects of the TFA on exports, export diversification and GDP, calculated using standard economic approaches, are presented. In order to provide a range of estimates, various implementation scenarios are considered. The differentiated impact of trade facilitation is analysed in order to provide insights on how the aggregate benefits of TFA implementation are distributed across country groups (developed, developing and least-developed countries), enterprises and product groups. Finally, the induced effects of trade facilitation on foreign direct investment, border revenue collection and reduction in trade-related and other forms of corruption are examined.

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