Most countries have been undergoing economic reforms during the past decade, reducing the barriers for movement of cargo and capital and increasing international trade. However, except in certain localized regions, trade invariably involves generation and transmission of documents such as those needed for customs-checking, financial documents, ownership documents, etc. This documentation cost in international trade is considered an avoidable expenditure, though its burden is felt by developed and developing countries. International organizations like UNCTAD have taken the lead initiative.
ABOUT THE AUTHOR T. Ramachandra Shastri
T R Shastri is a post graduate in science and a fellow of the Chartered Institute of Bankers, London. He is currently working as a faculty member at Icfai Business School, Bangalore. Prior to joining Icfai, he served Canara Bank, both in India and abroad. He has around 30 years of experience in industry, consulting and teaching. His current areas of interest include international trade facilitation and forex risk management. He has authored a book on FEMA published by PP publications, Chennai. He had been teaching as a guest faculty member at University of Madras and Annamalai University.
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