NEW YORK--(BUSINESS WIRE)--Borderfree, a market leader in international cross-border ecommerce solutions, applauded the comprehensive trade liberalization measures adopted by the World Trade Organization (WTO) in Bali on December 7, 2013. In line with Borderfree’s ongoing mission to break down barriers to global ecommerce, the Bali Package contains several provisions that will lay the groundwork for significant improvements in trade facilitation worldwide.
The WTO’s stated objectives for the agreement include speeding up customs procedures; making trade easier, faster and cheaper; providing clarity, efficiency and transparency; reducing bureaucracy and corruption, and using technological advances.
“We are thrilled about the WTO’s landmark agreement. As the first multilateral trade agreement in the WTO’s 18-year history, the Bali Package signals the intent for the global community to implement an automated, transparent process that will improve the speed and efficiency of global trade,” said Michael DeSimone, Chief Executive Officer, Borderfree. “The Bali Package sets the stage and vision for the future of global trade, and we look forward to seeing the benefits of the agreement, including a global de minimis, become a reality as soon as possible.”
Beyond the Bali Package, Borderfree hopes to see further trade liberalization through the passing of the Trade Facilitation and Enforcement Reauthorization Act (S. 662), which contains important provisions such as raising the current U.S. de minimis and establishing duty-free treatment for goods exported and returned to the U.S. Borderfree also strongly advocates the conclusion of the Trans-Pacific Partnership (TPP), which aims to establish a free trade area among 12 countries, several of which include Borderfree’s most important export markets. The implementation of each initiative will play a pivotal role in facilitating the global expansion of major U.S. brands and retailers that are striving to meet growing demand outside their home market.
For more information about Borderfree, visit: http://www.borderfree.com/.
New York City-based Borderfree is a market leader in international cross-border ecommerce solutions, operating a technology and services platform that the world’s most iconic brands rely on to expand globally and transact with customers in more than 100 countries and territories and more than 60 currencies worldwide. Borderfree manages all aspects of international online retailing including: localized pricing and payment processing, landed cost calculation, customs clearance and brokerage, fraud management, logistics orchestration, and customer-experience parity. For more information, visit www.borderfree.com.