Trade facilitation and security are key factors for promoting integration, declared Vice Ministers of Trade and Customs Directors of the region that met in Washington, D.C. on December 8th and 9th, 2011, as part of the framework of the Regional Policy Dialogue.

In the context of the international crisis, the region faces the challenge of reducing trade costs and the necessity of complying with growing trade security standards. To this end the authorities see a need for reform of trade procedures, both by governments and the private sector, with a view to optimizing border transit clearance times. They also highlighted the importance of reducing the costs associated with infrastructure and logistics, and of involving exporting companies in the international integration process.

“There is an urgent need to implement integrated border management policies, modernization of procedures for the control of goods in transit, and investment in infrastructure, in order to achieve efficiency and security in the logistics chain”, said Antoni Estevadeordal, Manager of the Integration and Trade Sector of the IDB.

IDB experts presented the new Strategy for Competitive Regional and Global Integration recently approved by the Governors of the Bank in the framework of the Ninth General Capital Increase.

Some reforms already implemented demonstrate the benefits of regional cooperation in customs matters. Initiatives such as the creation of single windows for foreign trade, public-private cooperation with Authorized Economic Operator programs, and the differentiated treatment of traffic through the application of risk analysis systems are best practices that the countries of the region could replicate with the support of the Bank.

The Regional Policy Dialogue is an initiative of the IDB for sharing experiences and lessons learned on public policy and for promoting regional cooperation among Latin American countries.