ADB: Better Trade Facilitation Could Reduce Trade Costs in Asia by Up to 9%

Improved trade facilitation — the simplification, modernization, and harmonization of export and import processes — can reduce trade costs by up to 9% in Asia and the Pacific, according to a new joint report by the Asian Development Bank (ADB) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) launched on Tuesday (Sept 5) on the sidelines of the Asia-Pacific Trade Facilitation Forum in Yogyakarta.

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