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Recent Trade News

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APEC Moving Forward on Trade Facilitation as Global Pact Stalls

APEC Aug 26, 2014

Issued by the APEC Committee on Trade and Investment

APEC economies are pressing ahead with efforts to accelerate trade and economic growth through the elimination of costly delays to the flow of goods as they cross international borders, undeterred by the unexpected challenge to implementation of the Agreement on Trade Facilitation now facing members of the World Trade Organization. 

Senior customs and trade officials from the APEC region are currently meeting in Beijing for the first time since WTO members failed to enact a protocol on 31 July required to proceed with adoption of the agreement that would ease trade bottlenecks through greater simplification of customs rules and processes. 

 

“Although the implementation of the Trade Facilitation Agreement is experiencing some difficulties, the facilitation of trade and reduction of trade costs remain high on our collective agenda,” said Sun Yibiao, Vice Minister of China’s General Customs Administration, in remarks before officials who are gathered here to chart the next step, culminating with a meeting of APEC Senior Officials from the region’s 21 member economies on Wednesday and Thursday.

Read Full Article on APEC »