Customs and Trade Facilitation Policy
Intel public policy: How Intel promotes innovation worldwide
Modernization of customs and trade procedures is highly important to major global supply chain participants like Intel. With business activities spanning over 100 countries and nearly 80 percent of its sales taking place outside the United States, Intel heavily depends upon the ability to move products across international borders quickly, cost effectively, and with minimal burdens.
Intel thus strongly supports the trade facilitation agreement, or TFA, recently concluded by the 160 member nations of the World Trade Organization (WTO). The agreement augurs major worldwide progress in the achievement of efficient trade procedures, including elimination of red tape and needless formalities at national borders, increasing transparency and consistency in the application of customs rules, expediting cargo release times, and enabling importation benefits for authorized operators. Indeed, former WTO Director-General Pascal Lamy has noted that "removing barriers to trade and cutting red tape in half…could stimulate the USD $22 trillion world economy by more than $1 trillion." A properly implemented TFA would benefit Intel by removing burdens and uncertainties within its global supply chain, cutting time-to-market overhead, reducing inventory carrying costs, and boosting global market access.
Given WTO approval of the TFA, the United States and other governments must work energetically to comprehensively implement the agreement's obligations across the WTO membership while ensuring it yields maximum trade benefits in the most effective and timely manner possible.