A Research On The Trade Facilitation Of Bric Countries

Trade facilitation is a hot topic in the field of international trade. As WTO statistics, the cost caused by the complicated trading procedures accounted for 2.5%-15% of the total amount of international trade. Since the financial crisis, the BRIC countries have maintained a high economic and trade growth, attracted worldwide attention. As the level of opening to the outside world improved in the BRIC countries, a lot of international trade activities and the rapid growth of trade flows. But a weak foundation of BRICS economic development, where is a big gap with the developed countries, trade facilitation infrastructure and institution building imperfect. This situation give BRIC countries higher requirement in trade facilitation. Therefore, this paper attempts to study the various issues of trade facilitation in BRIC countries.This paper described the development of BRICS trade facilitation status and evaluation system:Using the latest data of the World Economic Forum, Transparency International, the Swiss IMD World Competitiveness Report, selecting port efficiency, customs environment, regulatory and e-commerce, these four indicators to value the level of BRIC countries’trade facilitation, drawn a conclusion of BRICS trade facilitation comprehensive index. South Africa first, then China, India, Russia and Brazil. Analyzing each first grade indicators, South Africa’port efficiency, customs environment rules trade facilitation index value are higher than other BRIC countries. Brazil is at the end of the trade facilitation ranking, but e-commerce index value was significantly better than other BRIC countries. In the empirical analysis, the paper introduced trade facilitation indicators in trade gravity model, using 2012 cross-sectional data for 50 countries, including the BRIC countries. The results shows that trade facilitation, trade policy and GDP are important in the promotion of bilateral trade,and play an important role in improving trade flows.Then introduced each first grade trade facilitation indicators in trade gravity model,drawn the conclusion that port efficiency, customs environment, regulatory, e-commerce,these four indicators substantially have the same role in promoting bilateral trade flows, but port efficiency is relatively stronger. If a country can actively strengthen the construction of the port and shipping infrastructure,the country will better improved in the country’s business environment. Finally, according to the results of empirical analysis, this paper made strategy from infrastructure construction, system construction, commerce, trade facilitation standards and international cooperation, these five aspects to further promotion of the development of BRICS trade facilitation.