TRADE FACILITATION INDICATORS AND THEIR POTENTIAL IMPACT ON TRADE BETWEEN THE COUNTRIES OF SOUTH-EASTERN EUROPE

In this paper we base our analysis on previous OECD findings and analysis of trade facilitation indicators for assessing relative economic and trade impact of specific trade facilitation measures for the countries of South-Eastern Europe. In the analysis we plan to include all CEFTA-2006 members, except Moldova, and other countries which are part of this region: Bulgaria, Romania and Greece. We plan to construct twelve trade facilitation indicators (TFIs) that correspond to the main policy areas under negotiations at the WTO. The indicators are composed from seventy-eight variables, whose values are drawn from publicly available data. We plan to use these indicators in gravity model in order to estimate the impact of those policy areas on trade volumes between the countries of the region. The use of individual trade facilitation indicators should also enable countries to better assess which trade facilitation measures deserve priority.