Trade Facilitation in the Commonwealth: An Economic Analysis

Abstract

This article examines the economic impact of trade facilitation between Commonwealth country members, using a global computable general equilibrium framework. We document enormous economic impact, much higher than a complete tariff liberalisation amongst these countries. The economic impact is quite visible in terms of welfare, gross domestic product, employment and trade in several sectors. We abstract from the costs involved in such trade facilitation—accounting for them is beyond the scope of this study. JEL Classification: F13, F62, F68