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UNCTAD: Lack of direct sea connections affecting trade, market access
26.10.2017 08:02 "Agro Perspectiva" (Kyiv) —
Direct maritime connections between countries that are trade partners could reduce trade costs by nearly 10 per cent, UN Radio says referring to the UN trade body UNCTAD report.
As to the report, the UNCTAD finds that over 80% of these partners such as Brazil and Nigeria, for example do not have a direct sea connection.
UNCTAD calls this situation «low shipping connectivity» and says it continues to undermine access by smaller and weaker economies to global markets.
As to the report, many landlocked developing countries and small island developing states have been affected, given their access to fewer, less frequent, less reliable and more expensive transport connections.
UNCTAD recommends that shipping services whether national, regional or international «should be interconnected to the possible extent».
However, the report says many countries protect domestic shipping services from foreign competition, which can lead to «unnecessary inefficiencies» and a loss of maritime trade.
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