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Trade facilitation: definition and current significance for economic development of Russia

Journal: RUDN Journal of Economics (Vol.29, No. 3)

Publication Date:

Authors : ;

Page : 554-566

Keywords : trade facilitation; international trade; trade promotion;

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At the present stage of the functioning of the multilateral trading system there is an increasing need to find new approaches to the development and facilitation of trade other than the reduction of tariff and non-tariff barriers. Trade facilitation is the field of activity of many international organizations, it is recognized as an effective tool for promoting economic development and capacity building both at the level of an individual state, and within integration associations and regions, which, due to their geographic location have close political and economic ties. The areas targeted by trade facilitation measures are diverse and have evolved over time. This has led to the fact that the concept of “trade facilitation” does not have a specific applied characteristic, as well as a generally accepted framework for the implementation of initiatives in this area, which undoubtedly deserves scientific attention. This approaches to interpretation of “trade facilitation” term in Russian practice are described. Also were hold the analyses of considering term definitions, which were defined by international organizations in accordance with their scope of work and those, which are proposed by scientists. The main approaches to understanding of considering term were exposed, that make possible to characterize the essence and main directions of trade facilitation measures implementation. The feasible economical profits of implementing initiations in field of trade facilitation in framework of international trade both from supply and demand are described. In addition, the main perspectives of trade facilitation measures for different participants of international trade were systematized. In conclusion, defined author’s approach for understanding of “trade facilitation term” concerning the interests of Russia in this sphere. The author identified the most relevant vectors for the implementation of measures to facilitate trade procedures, which reflect the current directions for the implementation of the economic policy of the Russian Federation, as well as ensure the creation and maintenance of a favorable business environment to stimulate the development of foreign economic activity and foreign trade.

Last modified: 2021-10-05 18:50:56