Air cargo will be a key beneficiary of an initiative looking to support developing countries implement the World Trade Organization (WTO) trade facilitation agreement.
IATA and the United Nations Economic Commission for Europe (UNECE) have signed a Memorandum of Understanding (MoU) to strengthen their support for the WTO agreement that could reduce transport costs in developing countries by up to 10%.
Tony Tyler, IATA’s director general and chief executive, said: “The air cargo industry ships around 35% of global trade by value. For up to 90% of the ‘transport’ time, the goods may actually be on the ground waiting to be processed.
“Aligning regulation and procedures with global standards and best practices has the potential to deliver major efficiency gains. That’s the aim of the WTO Trade Facilitation Agreement which presents a great opportunity for our industry to reduce these delays and costs, particularly in developing countries."
Christian Friis Bach, UNECE executive secretary, said that his agency has worked with the business community for many years to develop trade facilitation recommendations and standards that reduce the cost of doing business.
He added: An excellent example of the application of these instruments is the IATA e-Freight Programme which reflects UNECE standards.
“This MoU with IATA will strengthen the implementation of our standards in developing and least developed countries, and as a consequence, help create growth and new jobs.”
