Benefits expected from Trade Facilitation

Trade facilitation initiatives benefit both the business community and governments. The business community benefits by obtaining enhanced competitiveness in national and international markets due to reduction in delays and costs which are achieved with predictable and efficient movement of goods across borders.

National administrations are able to utilize modern procedures to enhance controls, ensure proper collection of revenues due and at the same time contribute to the economic development through increased trade and encouragement of foreign investment.

A significant number of WCO Members are developing and least developed countries for whom efficient controls and better trade facilitation will result in increased revenues accruing to their Governments. These revenues contribute significantly to the programmes aimed at increasing the social and economic well being of their citizens.

In this context, the work done by the WCO links into commitments made by the international community to help least-developed countries secure beneficial and meaningful integration into the multilateral trading system and global economy. The WCO has indicated its willingness to participate as a development partner with other international institutions in capacity building. The WCO will achieve this by providing technical assistance activities aimed at enhancing the role of trade in development and by assisting in removing procedural and institutional bottlenecks within Customs that increase transaction costs.