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The United Kingdom is tripling its funding for UNCTAD's work to help Commonwealth developing countries reap the benefits of a global deal on making trade flow smoothly.
In 2015, UNCTAD joined forces with Her Majestys Revenue and Customs (HMRC) service and the World Customs Organization (WCO) to advance the implementation of the World Trade Organization's Trade Facilitation Agreement.
Encouraged by the success of the past three years, the UK government has decided to extend its support to UNCTAD until 2020 and has granted the Geneva-based UN trade and development body total funding of GBP 1 million. The sum represents an increase of over 300% compared to its previous contribution.
A new agreement is due to be signed between HMRC and UNCTAD in the coming weeks. It constitutes the basis to further expand what is known in full as the HMRC-WCO-UNCTAD Capacity Building Programme for the Implementation of the WTO Trade Facilitation Agreement.
Beitbridge
Bureaucratic delays and red tape pose a burden for moving goods across borders for traders. Trade facilitation the simplification, modernization and harmonization of export and import processes has therefore emerged...