Facilitating Intraregional Trade
In: Asia-Pacific Trade and Investment Report 2011: Post-crisis trade and investment opportunities
During the past two decades import tariffs have decreased significantly and the importance of non-tariff measures aimed at further reducing international transaction costs, i.e., trade facilitation, has become more apparent. Even if international shipping and other non-tariff costs are excluded, costs associated with completing documentary and other import and export procedures for international trade can account for up to 15% of the value of traded goods.
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