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GTAP Resource #4728

"Economic Impact of Improved Trade Facilitation in the Commonwealth"
by Sharma, Sachin Kumar and Badri Narayanan


Abstract
Economic Impact of Improved Trade Facilitation in the Commonwealth
Badri Narayanan. G. and Sachin Kumar Sharma
Introduction
Trade facilitation became a topic of discussion at the WTO at the Singapore Ministerial Conference in December 1996, when members directed the Council for Trade in Goods “to undertake exploratory and analytical work . . . on the simplification of trade procedures in order to assess the scope for WTO rules in this area” (Singapore Ministerial Declaration (Paragraph 21). WTO members formally launched negotiations on trade facilitation on the basis of modalities contained in Annex D of the so-called “July package” in 2004. After years of negotiations, the proposals on Trade facilitation became part of the final text of the Trade Facilitation Agreement agreed by members at the Bali Ministerial Conference in December 2013. In the recent months, the Trade Facilitation Agreement at the World trade Organisation has been one of the most common buzzwords in the global media on trade topics. Many studies have come up with numbers that indicate the economic impact of such an agreement. Some of them use standard trade-based CGE or gravity models for this purpose (e.g. Hufbauer, Gary and Jeffrey Schott (2013). However, there has been hardly any study that has attempted to capture the endogenous technological changes arising from investment in trade facilitation, which is what we attempt in this paper.
While the Commonwealth is neither a current nor much of a potential trading bloc, Commonwealth members emphasize on promoting intra-Commonwealth trade. One way of promoting such trade in goods is through improved trade facilitation measures. In this backdrop, the scope of the proposed study is to evaluate the extent to which trade facilitation can benefit all these economies vis-à-vis other trade policy measures such as tariff reduction.
Methodology
This study is conducted with a multi country, multi sector general equilibrium model by using GTAP mo...


Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Not published
By/In:
Date: 2015
Version:
Created: Sharma, S. (4/15/2015)
Updated: Batta, G. (5/1/2015)
Visits: 1,675
- Baseline development
- Preferential trading arrangements


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