It has been estimated that the hidden costs of red tape add up to 15 per cent of the value of goods traded. How to boost intra-regional trade in Asia and the Pacific by streamlining trade procedures and regulations? Can useful lessons be drawn from existing national and regional initiatives to further facilitate intra-regional trade? And how regional cooperation can help to reduce the trade facilitation gap across countries? These are some of the questions that will be discussed during the first Asia-Pacific Trade Facilitation Forum . Jointly organized by ESCAP and ADB, the event will take place from 25 to 26 November 2009, at the UN Conference Centre in Bangkok.
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The government is expected to draw on S$53.7 billion (US$40 billion) from its reserves for this year and an additional S24 billion (US$17.8 billion) over the next three years to assist local companies transition into a post-pandemic business environment.
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