Managing Risk and Facilitating Trade in the COVID-19 Pandemic
Maintaining trade flows as much as possible during the COVID-19 pandemic will be crucial in providing access to essential food and medical items and in limiting negative impacts on jobs and poverty. Some countries are closing border crossings and i...
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Format: | Policy Note |
Language: | English |
Published: |
World Bank, Washington, DC
2020
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Online Access: | http://documents.worldbank.org/curated/en/751981585606039541/Managing-Risk-and-Facilitating-Trade-in-the-COVID-19-Pandemic http://hdl.handle.net/10986/33515 |
Summary: | Maintaining trade flows as much as
possible during the COVID-19 pandemic will be crucial in
providing access to essential food and medical items and in
limiting negative impacts on jobs and poverty. Some
countries are closing border crossings and implementing
protectionist measures such as restricting exports of
critical medical supplies. Although these measures may in
the short-term provide some immediate reduction in the
spread of the disease, in the medium term they may undermine
health protection, as countries lose access to essential
products to fight the pandemic. Instead, governments should
refrain from introducing new barriers to trade and consider
removing import tariffs and other taxes at the border on
critical medical equipment and products, including food, to
support the health response. Trade facilitation measures can
contribute to the response to the crisis by expediting the
movement, release, and clearance of goods, including goods
in transit. The World Bank Group provides guidance and
technical assistance to developing and least developed
countries to implement best practices to facilitate the free
flow of goods. This note provides initial guidance on
measures: to support business continuity and protection of
front-line officers, and to facilitate safe cross-border
trade, which includes (i) handling of relief/emergency
consignments, (ii) enhanced use of risk management, safe
processing of risk passengers and (iii) increased internal
and external border agency collaboration. |
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