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Trade Facilitations

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Trade Facilitations
What is Trade?
- Trade is the voluntary exchange of goods, services, or both. Trade is also called commerce or transaction (Wikipedia)
 
What is Trade Facilitation?
- Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. (Wikipedia)
 
There are various definition to Trade facilitation such as found in WTO, ASEAN and TPP. The general comment to Trade Facilitation is ease of doing business among two (or more) countries. Most of the major concern of Trade Facilitation to come up allow the concept of FTA (Free Trade Agreement) to exist whereby member countries are allow to export and import as well as setting up business with less restriction particularly in reduction of Tariffs and Non-Tariffs regulations. For example in the ASEAN Blue Print, members countries (Brunei, Cambodia, Indonesia, Lao People’s Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) have to agreed to hasten the establishment of ASEAN Economic Community by 2015 to create a ASEAN single market base on five core elements that are;
 
·  Free flow of goods
·  Free flow of services
·  Free flow of investment
·  Free flow of capital
·  Free flow of skilled labour
 
Trade elements and negotiations concerning with Telecommunication sector falls under the purview of Ministry of Communication (the policy directives for Telecommunication). AITI as the telecoms regulator for the has been joint working with Ministry of Communication in providing feedbacks and regulations concern such as number portability, foreign equity ownerships, licensing (to name a few) are discussed internally before committing to any agreements as required by the particular Trade Agreements.
 
Below are some of the Trade Agreements that AITI are working with Ministry of Communication;           
 
· ASEAN China
· WTO
· ASEAN
· ASEAN - India
· ASEAN – 3 Plus (China, Korea, Japan)
· ASEAN – New Zealand and Australia
· BJEPA (Brunei-Japan Economic Partnership Agreement)
· Trans-Pacific Partnership (TPP) Agreement (Brunei, Chile, New Zealand and Singapore – US, Australia, Peru and Vietnam)
· Brunei and EU
· Brunei and India (MOU)