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Bangladesh, Cambodia and China have signed the Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, a new United Nations treaty aimed at strengthening digital trade in the region.



Several other countries at the signing ceremony hosted by ESCAP in Bangkok, also expressed their commitment to sign the treaty during the September 2017 session of the United Nations General Assembly in New York. 

Open to all 53 ESCAP Member States, this unprecedented regional treaty illustrates Asia and the Pacific’s leadership in adopting innovative trade facilitation measures. It will provide the foundation for participating countries in the region to cooperate and accelerate progress in achieving paperless trade across borders, cut trade time and costs, and ultimately boost economic competiveness. 

According to a recent ESCAP study, regional export gains for the Asia-Pacific region are estimated to reach US$250 billion annually with the full implementation of cross-border paperless trade. Even partial implementation of cross-border paperless trade could lead to an export increase of US$36 billion annually, and decrease the time required to export by as much as 44 percent and reduce costs by up to 31 percent.

http://www.jiffa.or.jp/en/news/entry-4910.html

Source: jiffa
2017-09-08