WB, WTO pledge trade facilitation support for Nigeria & others

The World Bank Group and the World Trade Organisation (WTO) have agreed to enhance their co-operation in assisting Nigeria and other developing and least-developed countries to better utilise trade facilitation programmes which can help countries reduce trade costs and more fully engage in the global economy. Trade facilitation aims to reduce barriers developing countries now face moving goods quickly and cost effectively by increasing port efficiency, improving customs and regulatory environments, and upgrading infrastructure to increase trade exports. According to the World Bank President, Jim Yong Kim, ‘Trade is a critical component to ending poverty and boosting shared prosperity and we are pleased to work with our partners at the WTO and other organisations to pursue these goals together,’ according to allafrica.com