Question: In this Research Assignment, you are required to compare two pivotal frameworks aimed at enhancing Trade Facilitation, namely: a ) The World Customs Organisation's Revised
In this Research Assignment, you are required to compare two pivotal frameworks aimed at enhancing Trade Facilitation, namely:
a The World Customs Organisation's "Revised Kyoto Convention", and
b The World Trade Organisation's Agreement on Trade Facilitation WTO ATF
Your objective is to meticulously analyse and elucidate all the benchmarks of modernised Customs Standards and Best Practices that these frameworks propose.
Moreover, you are required to assess how the adoption of these Standards by African Customs Administrations could lead to substantial improvements in Trade Facilitation on the African Continent.
It is imperative to provide thorough justifications for your analysis, particularly in light of the potential ramifications for IntraAfrica Trade under the auspices of the newly established African Continental Free Trade Area AfCFTA Agreement, as failure to achieve and implement the objectives of Trade Facilitation by Customs Authorities, could detrimentally impact IntraAfrica trade, underscoring the critical role the instrument plays.
In summary, your task involves:
Comparing the WCO "Revised Kyoto Convention" and the WTO "Agreement on Trade Facilitation.
Analysing and describing the new and modernised Customs Standards and Best Practices proposed by the frameworks in above.
Evaluating the potential impact of adopting these Standards by African Customs Administrations on Trade Facilitation in the continent.
Providing compelling motivations for your analysis, considering the significance of Trade Facilitation for IntraAfrica Trade within the context of the AfCFTA.
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