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Trade Facilitation
Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. Business costs may be a direct function of collecting information and submitting declarations or an indirect consequence of border checks in the form of delays and associated time penalties, forgone business opportunities and reduced competitiveness. Understanding and use of the term “trade facilitation” varies in the literature and amongst practitioners. "Trade facilitation" is largely used by institutions which seek to improve the regulatory interface between government bodies and traders at national borders. The WTO, in an online training package, has defined trade facilitation as “the simplification and harmonisation of international trade procedures”, where trade procedures are the “activities, practices and formalities invol ...
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Trade Restriction
A trade restriction is an artificial restriction on the trade of goods and/or services between two or more countries. It is the byproduct of protectionism. However, the term is controversial because what one part may see as a trade restriction another may see as a way to protect consumers from inferior, harmful or dangerous products. Examples German purity laws: Beer Germany required the production of beer to adhere to its purity law. The law, originally implemented in Bavaria in 1516 and eventually becoming law for newly unified Germany in 1871, made many foreign beers unable to be sold in Germany as "beer". This law was struck down in 1987 by the European Court of Justice, but is still voluntarily followed by many German breweries. US motor vehicle headlamps Rectangular headlamps were promoted in the United States where round lamps were required until 1975. By 1979, the majority of new cars now had the rectangular headlamps. Again, the US permitted only two standardized s ...
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Tariff
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. '' Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and red ...
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Single Window System
The single-window system or single-window concept is a trade facilitation concept which allows an international (cross-border) trader to submit information to a single agency, rather than having to deal with multiple agencies in multiple locations to obtain the necessary papers, permits, and clearances to complete their import or export processes. There is an obvious time saving benefit to the single window system. The concept is recognised by organisations such as the United Nations Economic Commission for Europe (UNECE) and its Centre for Trade Facilitation and Electronic Business (UN/CEFACT), World Customs Organization ( WCO), the United Nations Network of Experts for Paperless Trade and Transport in Asia and the Pacific (UNNExT), and the Association of Southeast Asian Nations (ASEAN). Concept The main value proposition for having a single window for a country or economy is to increase the efficiency through time and cost savings for traders in their dealings with governm ...
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Paperless Trade
Paperless trade refers to “trade taking place on the basis of electronic communications, including exchange of trade-related data and documents in electronic form” in the Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, adopted at United Nations Economic and Social Commission for Asia and the Pacific The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) is one of the five regional commissions under the jurisdiction of the United Nations Economic and Social Council. It was established in order to increase economic ... in May 2016. The enormous costs arising from the exchange of billions of trade-related documents, as well as the complexity of international trade documents and procedures, are a huge burden on businesses, and a major disincentive to many small firms for participating in international trade. Switching from paper documents would increase security and transparency in supply chains and prov ...
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Red Tape
Red tape is an idiom referring to regulations or conformity to formal rules or standards which are claimed to be excessive, rigid or redundant, or to bureaucracy claimed to hinder or prevent action or decision-making. It is usually applied to governments, corporations, and other large organizations. Things often described as "red tape" include filling out paperwork, obtaining licenses, having multiple people or committees approve a decision and various low-level rules that make conducting one's affairs slower, more difficult, or both. Red tape has been found to hamper organizational performance and employee wellbeing by meta-analytic studies in 2020. A related concept, administrative burden, refers to the costs citizens may experience in their interaction with government even if bureaucratic regulations or procedures serve legitimate purposes. Origins It is generally believed that the term originated with the Spanish administration of Charles V, King of Spain and Holy Roman ...
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Regulatory Reform
Regulatory reform concerns improvements to the quality of government regulation. At the international level, the "OECD Regulatory Reform Programme is aimed at helping governments improve regulatory quality - that is, reforming regulations that raise unnecessary obstacles to competition, innovation and growth, while ensuring that regulations efficiently serve important social objectives". Examples Indonesia The OECD produced a report in September 2012 reviewing Indonesia's regulatory reform programme, focusing on Indonesia's administrative and institutional arrangements for ensuring that regulations are effective and efficient. United Kingdom The Enterprise and Regulatory Reform Act 2013 aimed in part to "make provision for the reduction of legislative burdens". Part 5, "Reduction of legislative burdens", made provision for " sunset and review provisions" in secondary legislation, i.e. *a power to review the effectiveness of the legislation within a specified period or at the end ...
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Doha Development Round
The Doha Development Round or Doha Development Agenda (DDA) is the trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001 under then director-general Mike Moore. Its objective was to lower trade barriers around the world, and thus facilitate increased global trade. The Doha Agenda began with a ministerial-level meeting in Doha, Qatar in 2001. The aim was to put less developed countries' priorities at heart. The needs of the developing countries were the core reasons for the meeting. The major factors discussed include trade facilitation, services, rules of origin and dispute settlement. Special and differential treatment for the developing countries were also discussed as a major concern. Subsequent ministerial meetings took place in Cancún, Mexico (2003), and Hong Kong (2005). Related negotiations took place in Paris, France (2005), Potsdam, Germany (2007), and Geneva, Switzerland (2004, 2006, 2008). Progress in negotiations stalled af ...
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Customs
Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country. Traditionally, customs has been considered as the fiscal subject that charges customs duties (i.e. tariffs) and other taxes on import and export. In recent decades, the views on the functions of customs have considerably expanded and now covers three basic issues: taxation, security, and trade facilitation. Each country has its own laws and regulations for the import and export of goods into and out of a country, enforced by their respective customs authorities; the import/export of some goods may be restricted or forbidden entirely. A wide range of penalties are faced by those who break these laws. Overview Taxation The traditional function of customs has been the assessment and collection of customs duties, which is a tariff or tax on the importatio ...
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Supply Chain Security
__NOTOC__ Supply chain security (also "supply-chain security") activities aim to enhance the security of the supply chain or value chain, the transport and logistics systems for the world's cargo and to "facilitate legitimate trade".Government of CanadaAgreement between Canada and the European Union on Customs Cooperation with Respect to Matters Related to Supply-Chain Security signed 4 March 2013, accessed 18 August 2021 Their objective is to combine traditional practices of supply-chain management with the security requirements driven by threats such as terrorism, piracy, and theft. Typical supply-chain security activities include: * Credentialing of participants in the supply chain * Screening and validating of the contents of cargo being shipped * Advance notification of the contents to the destination country * Ensuring the security of cargo while in transit, for example through the use of locks and tamper-proof seals * Inspecting cargo on entry Overview According to the ...
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Transaction Costs
In economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market. Oliver E. Williamson defines transaction costs as the costs of running an economic system of companies, and unlike production costs, decision-makers determine strategies of companies by measuring transaction costs and production costs. Transaction costs are the total costs of making a transaction, including the cost of planning, deciding, changing plans, resolving disputes, and after-sales. Therefore, the transaction cost is one of the most significant factors in business operation and management. Oliver E. Williamson's ''Transaction Cost Economics'' popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs. In this sense, institutions that facilitate low transaction costs, boost economic growth.North, Douglass C. 1992. “Tr ...
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Supply Chain Management
In commerce, supply chain management (SCM) is the management of the flow of goods and services including all processes that transform raw materials into final products between businesses and locations. This can include the movement and storage of raw materials, work-in-process inventory, finished goods, and end to end order fulfilment from the point of origin to the point of consumption. Interconnected, interrelated or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. Supply-chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally". SCM practice draws heavily on industrial engineering, systems engineering, operations management, l ...
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Logistics
Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics manages the flow of goods between the point of origin and the point of consumption to meet the requirements of customers or corporations. The resources managed in logistics may include tangible goods such as materials, equipment, and supplies, as well as food and other consumable items. In military science, logistics is concerned with maintaining army supply lines while disrupting those of the enemy, since an armed force without resources and transportation is defenseless. Military logistics was already practiced in the ancient world and as the modern military has a significant need for logistics solutions, advanced implementations have been developed. In military logistics, logistics officers manage how and when to move resources to the places they are needed. Logistics management is the part of supply chain management and supply chain engine ...
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