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By Francisco X. Santeiro International trade and access to global markets are key factors contributing to economic growth and business opportunity throughout the world. They are especially beneficial in developing regions like Latin America and the Caribbean. The World Trade Organization’s agreement that concluded in Bali, Indonesia, in December of 2013 was focused on trade facilitation. The WTO defines trade facilitation as “the simplification and harmonization of international trade procedures”, with “trade procedures” described as the activities and formalities related to the movement of goods in international trade. In simpler language, the trade deal is meant to reduce red tape […]
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