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Economy in brief: Asia-Pacific countries discuss paperless trade
Representatives of 29 Asia-Pacific countries are meeting at the Asia Pacific Trade Forum in Yogyakarta from Tuesday to Friday to discuss the simplification of trade between countries through paperless methods to increase trade frequency
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span>Representatives of 29 Asia-Pacific countries are meeting at the Asia Pacific Trade Forum in Yogyakarta from Tuesday to Friday to discuss the simplification of trade between countries through paperless methods to increase trade frequency.
The Asian Development Bank (ADB), the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the Indonesian Coordinating Ministry for Economic Affairs facilitated the regional meeting to discuss paperless cross-border customs, immigration, quarantine and security (CIQS).
“With cross-country harmonization in CIQS, trade will run smoother and more efficiently and deliver benefits to all parties,” said Bambang Susantono, ADB vice president for knowledge management and sustainable development on Tuesday.
UNESCAP deputy executive secretary Hong Joo Hahm said the framework agreement on the facilitation of cross-border paperless trade in Asia and the Pacific could accelerate implementation of digital trade procedures in the Asia Pacific. Three countries formally signed the new UN treaty last week: Bangladesh, Cambodia and the People’s Republic of China.
