MANILA, Mar. 5 The Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific entered into force last February 20, 2021. In 2016, Member States conferred to adopt the framework agreement at the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) to accelerate trade digitalization - the electronic exchange of trade-related information across borders.
The Framework Agreement is an inclusive and highly flexible cooperation and capacity building platform where countries can participate regardless of their levels of development. In the most recent regional trade facilitation report by ADB and ESCAP, the latest estimates suggest that the Framework helps reduce trade cost by more than 20% in most of the developing countries of the region. The five countries that have ratified or acceded to the treaty Azerbaijan, Bangladesh, China, the Islamic Republic of Iran and the Philippines – are committed to regional cooperation in thi
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Armida Salsiah Alisjahbana
Tomorrow marks the entry into force of a new international agreement promoting paperless trade, a timely reminder of how the COVID-19 pandemic has brought digital solutions to regional development challenges into the limelight.
Paperless trade across borders has proven an effective way to mitigate trade disruptions since the onset of the crisis, enabling commerce to continue while limiting physical contact. Yet, despite the increasing acceptance of electronic documents across borders, implementation of cross-border paperless trade remains low according to the United Nations Global Survey on Digital and Sustainable Trade Facilitation for Asia and the Pacific.
Across Asia and the Pacific, governments must move from time-consuming paper-based processes to electronic and traceable trade procedures that can significantly enhance competitiveness and address new challenges associated with e-commerce and the digital economy. In doing so,
Seamless connectivity imperative for recovery from pandemic in South Asian s BBIN sub-region
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This will make the movement of their goods as well as people resilient to future shocks but will also increase the sub-region s transport and logistics competitiveness, along with expanding connectivity prospects for Bhutan and Nepal.
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As countries of the BBIN sub-region - Bangladesh, Bhutan, India, Nepal - adapt to Covid-19 shocks, infrastructure investments, institutional and digital trade facilitation measures that facilitate greater interoperability among railways, inland waterways, coastal shipping, highways and aviation networks are needed for a robust, sustainable and resilient recovery.
This will make the movement of their goods as well as people resilient to future shocks but will also increase the sub-region s transport and logistics competitiveness, along with expanding connectivity prospects for Bhutan and Nepal.
Tomorrow marks the entry into force of a new international agreement promoting paperless trade, a timely reminder of how the COVID-19 pandemic has brought digital solutions to regional development challenges into the limelight. Paperless trade across borders has proven an effective way to mitigate trade disruptions since the onset of the crisis, enabling commerce to…
Cross-border paperless deal to boost China s trade facilitation: ministry Xinhua | Updated: 2021-02-22 13:55 Share CLOSE Aerial photo taken on Feb 19, 2021 shows containers being loaded on a cargo ship at the automatic dock of the Qingdao port in Qingdao, East China s Shandong province. [Photo/Xinhua]
BEIJING The Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, which entered into force Sunday, will further enhance China s trade facilitation, the Ministry of Commerce said.
The agreement will give full play to China s advantage as an ultra-large market and provide broader market opportunities for Asia-Pacific members, said an official with the ministry s department of international trade and economic affairs.