World Bank Research E-Newsletter [July-August 2007]

A new World Bank-APEC study, “Transparency & Trade Facilitation in the Asia Pacific: Estimating the Gains from Reform”, estimates that the potential intra-regional gains in APEC from improved transparency (the way in which trade reform measures are designed and administered) are substantial—approximately $148 billion, which is 7.5 percent of 2004 trade. Action to improve transparency could be undertaken in many forms, including within the current Asia-Pacific Economic Cooperation framework or future talks on a Free Trade Area of the Asia Pacific. While reform must continue to focus on traditional measures such as tariffs, transparency is also critical, say authors Helbe, Shepherd and Wilson.