Overview
Trade facilitation is a critical aspect of international trade that focuses on simplifying and harmonizing trade processes. By reducing barriers and streamlining customs procedures, countries can enhance their economic efficiency and competitiveness. This is particularly important for developing nat...
Key Terms
Example: Tariffs and quotas are common trade barriers.
Example: Customs clearance is a key step in international shipping.
Example: Countries with efficient trade facilitation often experience faster economic growth.
Example: A smartphone may be designed in the USA, manufactured in China, and assembled in India.
Example: Harmonizing customs procedures can simplify international trade.
Example: Efficient logistics are essential for timely delivery in trade.