The following is excerpted from a 3 May 2013 release by OECD.
Multilateral agreement to cut red tape in international trade would dramatically reduce trading costs and add a substantial boost to the global economy, according to new OECD research.
The OECD Trade Facilitation Indicators estimate that comprehensive implementation of all measures currently being negotiated in the World Trade Organization’s Doha Development Round would reduce total trade costs by 10% in advanced economies and by 13-15.5% in developing countries. Reducing global trade costs by 1% would increase worldwide income by more than USD $40 billion, most of which would accrue in developing countries, according to the OECD.
This release is available in its entirety at:
http://www.oecd.org/trade/trade-facilitation-agreement-would-add-billions-to-global-economy-says-oecd.htm