What it is
Trade policy continues to be a cornerstore of BIAC’s engagement with the OECD. In lieu of import tariffs, governments increasingly turn to non-tariff measures (NTMs) to protect local markets from foreign competition. In many economies, NTMs can be more important than tariffs in limiting the ability of foreign companies to participate in national markets. By facilitating international policy coordination, OECD is in a unique position to help its member and non-member economies adopt policies that lead to growth.
Why it matters
Much work remains to be done on trade policy. The Trade Facilitation Agreement announced in Bali last December offers a very much needed opportunity for countries to reinvigorate multilateral trade negotiations and to speed the movement of goods and services across borders. Implementing Bali and reducing the costs of trade is essential, as the changes to transportation and communications technology over that past twenty years have transformed how companies deliver products and services—a paradigm shift captured in the OECD work on Global Value Chains (GVCs).
How it impacts
BIAC developed with its global membership a focus document that identifies nine priorities on trade going forward. Our priorities provide BIAC recommendations on leading issues – not necessarily presented in order of importance – for the OECD’s research agenda based on the business community’s on-the-ground experiences and perspectives on key and emerging trade issues.