International Trade Relations

INTERNATIONAL TRADE RELATIONS

Committee Co-Chairs: Dan Zhu and Sana Shah

International trade is a vital component of every nation’s economy. As the global economy grows more connected, we have to find more efficient methods and techniques for conducting trade. Obstacles such as “long waiting times at borders, inappropriate fees, cumbersome formalities, and inadequate or unclear rules and regulations” can all significantly bog down trade and as a result adversely affect investment, employment and development.”

Trade facilitation is the improvement of procedures regarding the movement of goods and services between nations. Less developed countries want a process where trading is simple, cost-effective, and creates new economic opportunities. Therefore, we can create a better global economy by speeding up trade and making it easier to occur. Doing so will increase “overall trade flows, resulting in higher state revenue, along with the other socio-economic benefits of increased trade such as job creation, poverty reduction, and improved quality of life.” Currently the World Trade Organization (WTO) has a Trade Facilitation Agreement (TFA) in place. This agreement has “expedited trade procedures, including the movement, release, and clearance of goods.”

Questions to Consider

• What are some ways that the current Trade Facilitation Agreement can be improved upon?
• Is there a role for the United Nations to play in facilitating and enforcing these kinds of trade agreements?