Transform Transport Corridors into Economic Corridors: Towards Inclusive Growth & Trade in the BBIN Sub-Region

Overview

Even if tariffs are reduced to zero, along with a reduction in the sensitive list of products, non-tariff and para-tariff barriers, trade in the BBIN sub-region may not achieve its optimum level; unless there is regional agreement towards trade facilitation encompassing transport connectivity, efficient transport, transit and trade logistics; minimisation of transaction costs; transparent and predictable decision making; and speedy resolution of disputes. The Briefing Paper states that transforming transport into economic corridors could be one initial step – it can help address many issues and boost trade and inclusive growth in the sub-region.