Asian nations asked to eschew trade barriers

UN ESCAP, ADB urge digital processes

Published - October 06, 2021 10:37 pm IST - New Delhi

Batting for trade openness, the UN ESCAP and the ADB on Wednesday jointly asked Asian nations to refrain from imposing trade restrictions including non-tariff barriers, stressing in a report that the impact of protectionist measures had never been positive for the global economy.

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Asian Development Bank (ADB) also made a case for promoting digital and paperless trade procedures by the Asian nations in view of the supply chain disruptions caused by the COVID-19 pandemic.

“Countries should refrain from using export restrictions and other non-tariff measures,” they said in the biennial report.

If countries quickened implementation of digital trade schemes, average trade costs could drop by more than 13%, they added.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.