The African Development Bank (AfDB), the International Trade
Centre (ITC), the UN Conference on Trade and Development (UNCTAD) and the World
Bank, and in cooperation with the UN Statistics Division (UNSD), today launched
the Transparency in Trade Initiative (TNT), a global program aiming to give
more access to influential trade data.
The
TNT Initiative is a joint project aiming to eliminate the transparency gap
resulting from the lack of access to data on country-specific trade policies. Once
fully developed, it will give free and easy access to information on trade
policy instruments like tariffs, non-tariff measures (NTMs) and services
regulations. In addition, the initiative will generate new and more accurate
data on NTMs and policies affecting trade in services and investment. All data
will be freely accessible on a web portal serving as a platform for users in
both developed and developing countries.
“We
need a revolution in Open Information for trade, to support Open Trade,” said
Robert B. Zoellick, President of the World Bank Group. “This important
initiative will make information on trade flows, tariffs and non-tariff barriers
– including those policies that affect trade in services – publicly and freely
available and easily accessible to all users.”
Free
access to data will make it easier for exporters and policy-makers to meet
relevant standards and requirements and therefore prevent rejection of their
exports at destination. The data will also allow for better monitoring and
analysis of trade-related projects. Such analysis is essential to provide a
basis for assessment of current projects and inform the development of new
initiatives. In addition, access to trade information will allow governments to
identify policy constraints and prioritize areas for reform and trade
negotiations.
“The
TNT initiative will allow all collaborating organizations and client countries to
utilize existing resources to a mutual advantage. It will substantially improve
the capacities for informed policy making in the area of trade policy and
negotiations to the benefit of developing countries, economies in transition
and LDCs,” emphasized Petko Draganov, Deputy Secretary-General of UNCTAD.
“Increasing
transparency in trade will improve the trading environment in Africa and in
Africa’s export markets; it will facilitate the continent’s exports to both
regional and international markets,” said Donald Kaberuka, President of the
African Development Bank. “The launching of the TNT initiative is thus a most
welcome development.”
“The TNT
project provides coherence to trade data not seen before. Its development is
due to a strong cooperation among agencies,” said Patricia R. Francis,
Executive Director of ITC. “With access to this platform, exporters and
policymakers will be able to make more informed decisions on where their
comparative advantages lie and which markets have the greatest potential for
their exports.”
The
parties signed an agreement to collaborate on the initiative of Transparency in
Trade, which signified the closer coordination and partnership that will evolve
around this multi-year initiative.
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