The World Bank has launched a new Sweden-funded Trade Facilitation Support Program (TFSP) in Middle East and North Africa (MENA) that aims to streamline trade processes, reduce costs, and enhance connectivity, thereby boosting regional and international trade. By aligning with international standards and focusing on inclusive growth, the TFSP is designed to boost economic development, reduce poverty, and create opportunities across the MENA region. Its key features include simplified border processes, transparency and predictability, economic recovery and development, inclusive growth and strengthening collaboration among MENA countries. By reducing barriers and enhancing cross-border trade, the World Bank’s TFSP aims to foster economic growth and create better job opportunities in the region. The program’s focus on streamlining trade processes will help the MENA region better respond to global crises and ensure the swift delivery of essential goods.

Source: The North Africa Journal July 20, 2024 16:36 UTC