Customs Cooperation Committee Regional Capacity Building Seminar

Abstract

Trade facilitation in terms of reducing customs red-tape, introducing modern customs techniques, and harmonizing trade procedures across countries is widely considered to be just as critical as trade liberalization in promoting growth and reducing poverty. The Seminar started by highlighting the development impact of trade facilitation and its importance in the context of East and Central Asia. Main benefits of trade facilitation include (i) reducing transaction costs and improving economic competitiveness; and (ii) promoting good governance through minimization of discretion that encourages corruption. Trade facilitation is particularly vital for Central Asian economies to overcome critical economic constraints (e.g., landlocked and smallscale economies), gain access to the international markets, and reestablish trade relations and distribution networks among themselves.