India’s efforts in streamlining the assessment and clearance of shipments to ease and boost cross-border trade have fetched fruitful results as India’s Trade facilitation score has increased to 90.32% from 78.49% in 2019 in the United Nations (UN) 4th Global Survey on Digital and Sustainable Trade Facilitation 2021.
Assessment:
It tracked 143 economies on 58 parameters related to the WTO’s Trade Facilitation Agreement (TFA), Framework Agreement on Facilitation of Cross-Border Paperless Trade in Asia and the Pacific (CPTA), among others over a two-year period.
- The parameters also include a new set of measures on ‘Trade Facilitation in Times of Crisis’.
Key Points:
i.India has scored 100% in transparency, 95.83% in formalities, 88.89% in institutional arrangement and cooperation, 96.3% in paperless trade, and 66.67% in cross-border paperless trade.
ii.India was among the best-performing countries in South and South West Asia, and the Asia Pacific region.
iii.India’s overall score was also higher than many Organization for Economic Cooperation and Development (OECD) countries, and the average European Union (EU).
iv.Among developed countries, Australia, New Zealand, the Netherlands, Japan and Belgium have scored more than 93%.
How is this survey helpful?
It helps the countries to monitor their progress in the implementation of measures for sustainable and digital trade facilitation. It also helps in identifying areas where more efforts are needed to address policy, legal, regulatory and technical obstacles.
- Also, the survey is followed by Global Report and five Regional Reports, which aim at providing insightful information related to trade for policy in order to achieve 2030 Agenda for Sustainable Development.
About Global Survey on Digital and Sustainable Trade Facilitation:
This biannual survey conducted jointly by the five United Nations Regional Commissions (UNRCs) viz. ECA (Economic Commission for Africa), ECE (Economic Commission for Europe), ECLAC (Economic Commission for Latin America and the Caribbean), ESCAP (Economic and Social Commission for Asia and the Pacific) and ESCWA (Economic and Social Commission for Western Asia) deals with trade facilitation measures taken up by countries.
- It was started in 2015.
- The 2021 Survey is conducted on the basis of an updated questionnaire, developed by the UNRCs in cooperation with UNCTAD (United Nations Conference on Trade and Development), ICC (International Chamber of Commerce), OECD and many other collaborating institutions.
Recent Related News:
In the recently released World Competitiveness Index 2021 released by the Institute for Management Development’s (IMD) World Competitiveness Center, India retained its 43rd rank out of 64 nations (for the 3rd consecutive year). Switzerland topped the Index followed by Sweden in the 2nd spot & Denmark in the 3rd spot.
About United Nations (UN):
Establishment– 1945
Secretary General– Antonio Manuel de Oliveira Guterres
Members– 193 (India became its member on October 30, 1945)
Secretariat– New York, United States (US)
