According to the World Trade Organization (WTO, 2013), the Trade Facilitation Agreement could reduce trade costs by $350 billion to $1 trillion and increase world trade by $33 billion to $100 billion a year in global exports and $67 billion in global GDP (gross domestic product). The results of this mission will be used to develop a joint capacity-building plan, including a number of activities that will be supported by the HMRC-WCO-UNCTAD CCI`s capacity building program as part of WCO`s bespoke Mercator program, which aims to help DSC members effectively implement CSD instruments and instruments. This support is coordinated and coordinated with the support of other development partners and addresses areas where pooling is seen as the most effective way to leverage the respective strengths of WCO and other development partners in the area of trade facilitation. Recognizing the complexity of the trade facilitation environment and the WCO`s unique model of capacity building, cooperation with NBR stakeholders in Dhaka and Chittagong focused on identifying areas where WCO could complement existing initiatives and where WCO`s expertise, tools and instruments would give unique technical value to existing commitments. A visit to the Bangladesh Customs, Excise and VAT Training Academy in Chittagong was an opportunity to present the WCO`s online learning suite and the framework of customs professionalism practices and principles. Meetings with stakeholders, including the Federation of Bangladesh Chambers of Commerce and Industry and logistics/port actors at Chittagong Port, helped to confirm key issues and needs, while an open dialogue with the Ministry of Commerce provided the broad economic and trade context of the Government of Bangladesh. The mission provided a comprehensive assessment of progress in facilitating trade in Bangladesh and a comprehensive assessment of Bangladesh`s current needs and challenges in implementing the TFA. On 8 June, the WTO held an exchange of experiences to help members identify the best practices and challenges WTO members face in establishing or maintaining national trade facilitation committees. This was the first event of its kind in which the best way to implement specific commitments under the DSC was discussed. Experts from more than 20 countries and five international organizations attended the workshop; Here are the presentations and more information about the event. The National Board of Revenue has implemented a number of projects in collaboration with donor agencies, but the improvement of this sector is still far from the desired level.
Trade Facilitation Agreement Bangladesh