Full implementation of the World Trade Organisation’s (WTO) trade facilitation agreement (TFA) could reduce global trade costs by up to 17.5%, according to the OECD.
The 2015 OECD trade facilitation indicators (TFIs) have determined that developing countries have the greatest opportunities for trade cost reduction through the TFA, as most upper middle and high income countries already implement “best endeavours”, and therefore have less room for improvement.
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