^

Cross-border paperless trade to boost AsPac exports

(The Philippine Star) - September 22, 2014 - 12:00am

MANILA, Philippines - Countries in the Asia-Pacific region, including the Philippines, can implement cross-border paperless trade facilitation measure which has significant potential to reduce trade costs and boost exports.

A study released by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) estimated an export increase of $36 billion annually with the partial implementation of cross-border paperless trade measures.

The study said the full region-wide implementation of such measures will result in higher export revenue of $257 billion yearly.

As the time required to export and direct costs are reduced depending on the reform scenario considered, total direct cost savings across all trade would be approximately $1 billion annually for partial reform, and $7 billion annually for full implementation, it said.

“The report’s results should not be interpreted as forecasts of the likely impact of particular reforms, but instead as general indications of the direction and relative magnitude of the changes that would take place if reform occurred today, and all other factors were held constant,” the report said.

The UNESCAP study said many Asia-Pacific countries are strong performers in the area of trade facilitation, while some have led the region and the world in implementing highly efficient paperless trade reforms.

“In general, the region has a good record of designing and implementing trade facilitation reforms that have lowered trade costs and boosted exports,” it said.

However, the UNESCAP 2013 survey used in the report indicated that the extent of implementation of key measures – including paperless trade – varies substantially from one country to another, as well as across sub-regions.

The study said it is for this reason that regional groupings like Association of Southeast Asian Nations (ASEAN) and Asia Pacific Economic Cooperation (APEC) are working toward bringing about a certain degree of homogeneity, or at least the acceptance of common targets, in the area of trade facilitation.

“For those countries with much to do in terms of implementing cross-border paperless trade, it is clear that the first policy priority should be on general paperless initiatives, such as customs automation, and an electronic Single Window,” it said.

While for countries that still have to make fundamental reforms to border processes, the study underscored the need to get involved in regional cooperation on cross-border paperless trade at an early stage.

“...They can avoid having to re-engineer processes at a later point, and thereby enjoy considerable overall implementation cost savings,” it added.

 

ASIA AND THE PACIFIC ASIA PACIFIC ECONOMIC COOPERATION ASIA-PACIFIC ASSOCIATION OF SOUTHEAST ASIAN NATIONS BORDER IMPLEMENTATION PAPERLESS SINGLE WINDOW TRADE UNITED NATIONS ECONOMIC AND SOCIAL COMMISSION
  • Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with