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Fifth Global Review of Aid for Trade: “Reducing Trade Costs for Inclusive, Sustainable Growth”
This year's Global Review analysed actions already undertaken by developing countries, regional communities and their development partners to reduce trade costs and survey the extent of the challenge remaining, and how it can be addressed in the context of the proposed Sustainable Development Goals.
One specific action that the trade and development community can take to address high trade costs is to ensure the timely implementation of the WTO Trade Facilitation Agreement (TFA). OECD figures suggest that support for trade facilitation is growing and more funding is becoming available. Many developing countries, however, remain concerned that they will not be able to access support to implement the TFA. The Review surveyed in detail lessons from past and on-going support for border and customs modernization efforts, with the aim of ensuring that support for the TFA is effective and sustained, including the support provided through the WTO's Trade Facilitation Agreement Facility.