Cross-border trade faces still unresolved impediments – survey

Thursday 27 February 2014 13:14 CET | News

The International Chamber of Commerce (ICC) has recently made public a survey which signals that governments and policymakers worldwide should pay attention to some existing hurdles in current cross-border trade which should be surpassed to facilitate the flow of goods across borders.

The survey stresses a number of factors which cross-border transaction merchants look at, namely predictability, reliability and consistency. Based on the common opinion of 88% of the ones questioned, who are active in import and export or trade in services along with freight forwarding, transportation and third party logistics, the survey surfaces the fact that there is a need for greater capacity building, in particular through education and making information available, to ensure that both traders and border control officials follow proper international trading procedures.

Additionally, it reveals that there is also a need for an effective customs-business dialogue at national level to find ways to lessen delays in trade processes and shorten release times. The mastermind behind the current survey is Anthony Barone, Head of ICC Commission, who wants to transform cross-border commerce into a day-to-day, free of impediments business.

The survey is on the same footing with current international developments seeking to facilitate trade and border procedures. Some of the procedures conclude on multilateral agreement on trade facilitation at the 9th Ministerial Conference of the World Trade Organization in December 2013, and the ongoing negotiations of the Trans-Pacific Partnership Agreement, the Trans-Atlantic Trade and Investment Partnership and the Regional Comprehensive Partnership Negotiations.

Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation for mature and emerging markets.

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Keywords: The International Chamber of Commerce, survey, cross border trade, trade facilitation measures, customs business
Categories: Payments & Commerce
Countries: World
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