The Framework Agreement on Facilitation of Cross-Border Paperless Trade in Asia and the Pacific, which came into effect on Saturday (20.02.2021), will further improve China's trade transactions, the Chinese Ministry of Commerce said, Xinhua news agency reported.
The agreement will make full use of the Asian giant's market advantage and provide broad opportunities for Asia-Pacific members, said an official with the Ministry's Department of International Trade and Economic Affairs.
Members of the Agreement are all countries located along the Belt and Road; This initiative resumes the old Eurasian trade route. And the development of paperless cross-border trade will greatly promote the interconnection and exchange of Asia and the Pacific, the official said.
At the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Member States had already agreed in 2016 on the Framework Agreement on Facilitation of Paperless Cross-Border Trade in that region.
In addition to China, nearly 30 ESCAP members have joined the agreement, including Russia, South Korea, India and Indonesia.
The treaty aims to accelerate the implementation of digital trade facilitation measures for trade and development. It is designed as an inclusive instrument accessible to countries at all levels of development to increase their capacity to participate in paperless cross-border trade, the document says. ESCAP.
With information from the United Nations Economic and Social Commission for Asia and the Pacific and Xinhua
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
