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  Authors

Sanjana P S

  Keywords

Trade facilitation, foreign direct investment, economic diversification, environmental sustainability

  Abstract


Trade facilitation measures have a profound impact on economic development in developing countries. These measures encompass policies and actions aimed at simplifying and expediting the cross-border movement of goods, including streamlined customs procedures, infrastructure improvements, and regulatory reforms. Research consistently shows that well-implemented trade facilitation measures lead to increased trade flows, incredible economic growth, enhanced competitiveness, and higher living standards. Developing nations that make investments in trade facilitation have increased commerce, drawn in foreign direct investment, and promoted the creation of jobs. Businesses can concentrate on product quality and innovation because of the decrease in trade costs and increased efficiency, which encourages economic diversification. Measures to facilitate trade also help to lessen corruption at border crossings, which enhances the atmosphere for doing business. Trade facilitation influences more than just the economy in any case. Creating more job possibilities and raising wages can improve human development indices and reduce poverty. In addition, it promotes ecologically friendly behaviors and provides chances for gender parity in global trade. Addressing issues like fair benefit distribution, environmental sustainability, and legal compliance is crucial to maximizing the benefits of trade facilitation for economic growth. Governments, international organizations, businesses, and civil society must work together to ensure that trade facilitation policies are optimized for the benefit of developing nations and their people.

  IJCRT's Publication Details

  Unique Identification Number - IJCRT2402145

  Paper ID - 250360

  Author type - Indian Author

  Page Number(s) - b243-b250

  Pubished in - Volume 12 | Issue 2 | February 2024

  DOI (Digital Object Identifier) -   

  No Of Downloads - 42

  Author Country - India, 560029, Bengaluru, Bengaluru, 560029, Others area

  Publisher Name - IJPUBLICATION | www.ijcrt.org | ISSN : 2320-2882

  E-ISSN Number - 2320-2882

  Published Paper PDF : - http://www.ijcrt.org/papers/IJCRT2402145

  Published Paper URL: : - http://ijcrt.org/viewfull.php?&p_id=IJCRT2402145

  Published Paper PDF Downlaod: - download.php?file=IJCRT2402145

  Cite this article

Sanjana P S,   "The impact of trade facilitation measures on economic development in developing countries.", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.12, Issue 2, pp.b243-b250, February 2024, Available at :http://www.ijcrt.org/papers/IJCRT2402145.pdf

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