This study examines the role of Islamic bonds (Sukuk) in advancing financial markets, facilitating trade, and promoting inclusive economic development. Sukuk represent a Shariah-compliant alternative to conventional bonds, providing investment opportunities that adhere to Islamic principles while enabling efficient capital mobilization. The research employs a qualitative approach, analyzing literature, regulatory frameworks, and case studies of prominent Sukuk issuances across different markets. Key findings indicate that Sukuk enhance market liquidity, provide risk-sharing mechanisms, and support infrastructure and trade financing. Additionally, Sukuk contribute to inclusive development by enabling broader participation of investors, including those seeking ethical and Shariah-compliant investment options. However, challenges such as regulatory fragmentation, market standardization, and investor awareness limit their full potential. The study concludes that fostering regulatory harmonization, promoting transparency, and strengthening institutional capacity are critical for maximizing the economic and social impact of Sukuk in global financial markets.

Purpose This study aims to explore the interplay between corruption, information and communication technology (ICT) and bilateral trade flows in the Middle East and North Africa (MENA), distinguishing between oil and non-oil exporters. It examines whether ICT amplifies governance benefits on the bilateral trade and reduces transaction costs under weak institutions. Design/methodology/approach An augmented gravity model is estimated using Poisson pseudo-maximum likelihood (PPML) to account for zero trade flows and heteroskedasticity. The model tests direct and interactive effects of corruption and ICT, using a MENA panel data set and addressing endogeneity and unobserved heterogeneity. Findings Corruption significantly depresses bilateral trade, with stronger effects among oil exporters. ICT has mixed direct effects, sometimes hindering trade in non-oil economies but supporting oil–non-oil linkages. Interaction terms show ICT enhances the trade-promoting role of corruption control, especially on the exporter side. Coordinated ICT–governance strategies are vital. Practical implications Policies should combine anti-corruption reforms with ICT-based trade facilitation, such as blockchain and e-government tools. Originality/value To the best of the authors’ knowledge, this is among the first region-specific analyses of the corruption–ICT–trade nexus in MENA, highlighting oil versus non-oil asymmetries and exporter/importer differences.

ABSTRACT This article analyzes the effect of trade facilitation (TF) on intra-ECOWAS trade between 2010 and 2023, using an augmented gravity model and the World Bank’s Logistics Performance Index (LPI). The PPML estimator shows that TF has a positive and significant effect on intra-ECOWAS trade. Specifically, the competence and quality of logistics services, as well as the ability to organize international shipments at competitive prices, boost intra-community trade. It is more than necessary for ECOWAS countries to strengthen measures such as logistics quality and international shipping to promote smooth and competitive intra-regional trade.

This study examines the role of business ethics in Islam in promoting inclusive development through ethical practices and trade facilitation. Employing a qualitative research approach, the study synthesizes insights from academic literature, case studies, and industry reports to analyze how Islamic ethical principles such as honesty, fairness, justice, and social responsibility are embedded in business operations. Key findings reveal that adherence to Islamic ethics enhances trust among stakeholders, strengthens trade relationships, and supports the participation of small and medium enterprises (SMEs) in the market, thereby fostering inclusive economic growth. The study also identifies challenges, including regulatory inconsistencies, limited awareness of Islamic ethical standards, and gaps in implementation across sectors. The research concludes that promoting awareness, standardizing ethical guidelines, and integrating Islamic ethical practices into business operations are critical for leveraging ethical frameworks to achieve sustainable and inclusive development.

The African Continental Free Trade Area (AfCFTA) is the largest free trade area with 54 member states. Language barrier issues, infrastructure shortfall constraints, and structural challenges have plagued the U.S. trade with Francophone Africa. AfCFTA presents opportunities for the U.S. to strengthen its trade relationship with Francophone Africa. This paper combines peer-reviewed studies and policy reports on governmental reforms, digital services, infrastructure, and logistics to create new opportunities for U.S. businesses and offer insights to guide policy decisions. The findings highlight that uniform regulatory frameworks, efficiency in customs operations, and expanding intra-African trade present opportunities for the U.S. to increase exports, improve supply chain systems, and promote diversity in trade relationships. The findings suggest that U.S. support for the AfCFTA framework will benefit U.S. economic interests. The U.S. will achieve significant gains through technical support, private sector participation, and government engagement with AfCFTA. Additionally, the U.S. will benefit from the opening up of new markets for products, the competitive positioning of U.S. businesses against global trade rivals, and the formation of mutually beneficial economic alliances that strengthen energy security and supply chains. U.S. involvement in enhanced digital trade and infrastructure partnerships will enhance its position in the African trade and economic landscape and secure U.S. geopolitical interests. It is argued that sustained U.S. support for implementing AfCFTA could yield significant benefits.

This study examines how diaspora networks influence the export performance of small-scale agro-processing firms in the Federal Capital Territory, Abuja, Nigeria. Drawing on social network theory and diaspora entrepreneurship theory, the study conceptualises diaspora networks through three dimensions: remitting behaviour, diaspora knowledge transfer, and diaspora trade facilitation. Primary data were collected through a structured questionnaire administered to owners and managers of small-scale agro-processing firms, and the hypothesised relationships were analysed using partial least squares structural equation modelling. The results indicate that remitting behaviour, diaspora knowledge transfer, and diaspora trade facilitation each exhibit positive and statistically significant relationships with export performance. The findings highlight the multidimensional role of diaspora communities as providers of financial capital, market-relevant knowledge, and cross-border trade support that can strengthen the international competitiveness of small firms. The study contributes to the diaspora networks and small firm internationalisation literature by providing firm-level evidence from an emerging economy context and by clarifying actionable pathways through which diaspora engagement can be leveraged to improve export outcomes. Policy and managerial implications are discussed, particularly regarding programmes that support productive remittance channelling, structured knowledge exchange platforms, and diaspora-enabled trade linkages

To enhance the operational effectiveness and trade facilitation of cross-border e-commerce supply chain management, this study investigates the impact of digital trade regulation (DTR) practices. The objective is to develop a comprehensive understanding of how digital trade legislation influences cross-border e-commerce supply chains and how supply chain efficiency can be improved through effective management approaches. First, through a systematic literature review, this study examines current global DTR practices, thereby establishing a solid theoretical foundation. Second, through in-depth analysis of real-world cross-border e-commerce supply chain cases, the practical application and challenges of DTR in supply chain management are explored. From a quantitative perspective, a questionnaire survey method is employed, encompassing diverse participants such as cross-border e-commerce enterprises, government regulatory agencies, and logistics service providers. Based on the survey data, a comprehensive evaluation model is constructed to assess the impact of DTR on cross-border e-commerce supply chain management. The study further focuses on key indicators, including time of goods circulation, customs declaration process efficiency, and cost reduction, to comprehensively assess the simulated effects of the model. The results demonstrate that cross-border e-commerce supply chain management is significantly enhanced following the implementation of digital trade legislation. Under the simulation conditions, average time of goods circulation is reduced by 13.60%, customs declaration process efficiency improves by 21.5%, and cost reduction decreases by 5%–10%. Overall, this study provides practical guidance for enterprises operating in compliance within the digital trade environment while offering valuable reference insights for government regulators in policy formulation.

Despite the ongoing debate within the scientific community and the absence of consensus on their role and status, the proliferation of honorary consulates remains unabated. In fact, there has been a consistent and gradual increase in the establishment of these consulates over the past several decades. The institution of honorary consulate has been consistently regarded as a valuable asset within the architecture of foreign relations, despite not receiving the same degree of institutional recognition as the career consulate. To the present day, certain states continue to exhibit reluctance towards the establishment of this type of consulates, citing concerns related to, for instance, the loyalty to the country that appointed the honorary consuls. Moreover, although certain scientific articles emphasise their role and significance, quantitative research employing statistical and econometric methods to evaluate the impact of economic diplomacy on trade or investments frequently excludes honorary consulates from their models. Such research focuses on actors such as diplomatic missions. It is evident that there is a correlation between honorary consulates and economic and commercial activities; however, the question remains as to what extent this correlation is indeed a cause of tangible impact. The present article thus examines the evolving role of honorary consuls, with particular attention to their contribution to trade facilitation, the attraction of investments, and the promotion of national companies. These activities are encompassed within the spectrum of economic diplomacy. The present study adopts a literature review as its methodological approach, reviewing the extant literature on the topic of honorary consulates. The primary objective is to undertake a thorough examination of the extant literature pertinent to the subject, with a view to elucidating the contribution of these actors to the practice of economic diplomacy. The findings indicate that the establishment of honorary consulates is of particular benefit to small states, as it facilitates the enhancement of bilateral relations. Despite ongoing debates and reluctance to establish honorary consulates, this paper argues that the institution remains a relevant instrument of diplomacy, particularly for states with limited resources. Given the limited academic engagement with this topic, this review maps the existing research and provides a foundation for further empirical and theoretical studies into the evolving role of honorary consulates in contemporary international economic relations.

The research highlights the increasing importance of international electronic commerce as a modern form of global exchange, demonstrating its potential to enhance trade efficiency and connectivity across borders. The study also examines the evolution of China’s foreign economic policy, identifying its strategic shifts and assessing their impact on trade relations with Central Asian countries.A detailed analysis of China’s trade with Central Asian nations reveals key trends, challenges, and opportunities in bilateral and multilateral economic cooperation. The study further evaluates the role of the Belt and Road Initiative (BRI) as a transformative force in regional and global trade, emphasizing its contribution to infrastructure development and trade facilitation.

This study investigates the macroeconomic determinants of China's electromechanical product exports to ASEAN countries, focusing on how economic scale, exchange rates, trade costs, and trade facilitation measures influence bilateral trade flows. An extended gravity model is applied using panel data from 2010 to 2019, covering seven ASEAN countries (Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam). The analysis incorporates bilateral GDP, RMB real effective exchange rate, average tariffs, distance-weighted transportation costs, and a Trade Facilitation Index derived from Global Competitiveness Report data through Principal Component Analysis. The results reveal that ASEAN countries' GDP is the dominant driver of export flows, with an elasticity coefficient of 1.191, indicating that demand for technology-intensive products grows more than proportionally with economic development. Exchange rate appreciation positively affects exports through quality signaling effects, while trade costs exhibit complex relationships with export performance. Trade facilitation measures strengthen export competitiveness through complementarities with traditional macroeconomic factors, though their effects are secondary to macroeconomic fundamentals. By extending gravity model applications to technology-intensive exports within regional integration contexts, this research provides insights into the interaction of macroeconomic variables in determining trade flows. The findings suggest that policymakers in China and ASEAN should prioritize supporting economic capacity building, stabilizing exchange rates for high-end market positioning, reducing tariffs and transport costs, and improving customs efficiency and logistics systems to enhance bilateral trade cooperation.

The China–Pakistan Economic Corridor (CPEC) is widely regarded as a transformative initiative for Pakistan’s economic integration; however, its internal route configuration has generated significant political and developmental debate. This study examines economic integration under CPEC through a comparative analysis of its Eastern and Western routes, conceptualizing them as distinct yet interconnected development pathways. Using a qualitative, comparative research design supported by descriptive quantitative indicators, the study relies exclusively on secondary data drawn from official government reports, international development institutions, parliamentary records, and peer-reviewed academic literature. The analysis demonstrates that the Eastern Route, aligned with Pakistan’s established urban industrial core, has delivered faster infrastructure completion, higher investment concentration, improved trade facilitation, and short-term efficiency gains. In contrast, the Western Route traversing historically marginalized regions of Khyber Pakhtunkhwa, ex-FATA, and Balochistan has progressed more slowly due to security, terrain, and institutional constraints, yet exhibits stronger potential for inclusive growth, regional equity, and long-term national integration. Comparative evaluation reveals that policy prioritization of efficiency has reinforced existing core periphery disparities, while underinvestment in the Western Route has constrained its integrative capacity. The findings highlight that CPEC’s developmental outcomes are shaped not only by infrastructure economics but also by political economy dynamics, federal–provincial governance asymmetries, and spatial justice considerations. The study concludes that sustainable economic integration under CPEC requires a recalibrated corridor strategy that balances efficiency-driven growth with equity oriented regional development. By integrating both routes within a unified national framework, Pakistan can transform CPEC from a connectivity project into a mechanism for long-term economic cohesion and stability.

This paper examines whether export diversification at the firm level causally enhances productivity in emerging markets. While export diversification is widely promoted as a development strategy, empirical evidence on its microeconomic foundations remains limited. Using harmonised firm-level customs and production data from multiple emerging economies, we analyse how changes in export variety—across products and destination markets—affect firm-level total factor productivity. To address endogeneity arising from self-selection and reverse causality, we employ a combination of firm fixed effects, country-by-year fixed effects, instrumental variables based on exogenous global demand shocks, and event-study designs around major diversification episodes. We find robust evidence that increases in export variety lead to economically meaningful productivity gains. These effects materialise gradually over time, consistent with learning, capability accumulation, and organisational adjustment. Productivity gains are larger when diversification involves more complex products and are stronger in countries with better trade facilitation and institutional quality. Counterfactual analyses suggest that export diversification accounts for a non-trivial share of aggregate productivity growth in several emerging markets. The results highlight export diversification as an active channel of productivity growth rather than a mere outcome of firm performance, with important implications for development and trade policy.

This study’s objectives were to assess the extent the AEO programme contributed to improved customs tax compliance among participating businesses and how the AEO programme has affected trade facilitation in South Africa. A mixed-method research approach was used, combining qualitative and quantitative data from a survey. The sample size was 22, selected through purposive stratified sampling, including 1 tax lecturer from the University of KwaZulu-Natal and 21 middle management employees from the South African tax administrator’s AEO department. Key informants reported that the AEO programme has enhanced compliance rates through the implementation of improvement initiatives, the establishment of partnerships, and support for non-compliant applicants. The AEO programme is a voluntary initiative created by the World Customs Organisation in order to ensure compliance and facilitate trade. The programme enhances trade by offering dedicated support through CRM teams, streamlining business operations, and ensuring the swift release of goods.

This paper traces the trajectory of digitalization and innovation reforms undertaken by Pakistan Customs to facilitate cross-border trade, with special focus on Faceless Customs Assessment (FCA), the latest initiative of the Government of Pakistan under the Prime Minister’s Transformational Plan for FBR. Data of over 144,000 goods declarations (GDs) of red (non-facilitated) and yellow (semi-facilitated) categories filed in 180 days, pre-intervention ninety days, and ninety days post-intervention, is analysed to assess the impact of this initiative on trade facilitation and quality of assessments. Pre-post data of assessment time, documents calling, and referrals to physical examination, reviews filed, and clearance-related complaints are evaluated to assess the impact on trade facilitation. The results conclusively suggest that under the new initiative, trade facilitation has increased remarkably. For determining the impact on the quality of assessments, analysis of assessed value (AV) vis-a-vis declared value (DV) is conducted. The results suggest that revenue did not witness any dip, and the quality of assessments improved due to FCA intervention. The positive impact on revenue (collected as additional revenue), though marginal in comparison with the increase in trade facilitation, further confirms that the quality of assessments has increased in the post-intervention period. Impliedly, it also suggests that the quantum of import-stage lost revenue through undervaluation and collusion is much less than generally perceived and reported in the press. The paper argues that the abolition of interaction between the assessors and customs brokers, embedding an element of anonymity in the process of assessment of GDs, and innovation in the internal management of the organization, are the key determinants of the positive outcomes. AI-driven risk evaluations and assessments of GDs and the use of a Blockchain-based framework are suggested to further enhance trade facilitation and to improve the quality of assessments.

This paper aims to evaluate the role of AI and ML-driven innovative technologies in enhancing customs operations in Jordan. This research employed a quantitative approach to develop an overall conceptual model that encompasses both the technical and behavioral aspects of intelligent system adoption. The target population consisted of customs officers, border security personnel, and IT personnel responsible for customs clearance and trade facilitation in Jordan. The structured questionnaires were administered to the respondents to measure their perceptions of system effectiveness, satisfaction, performance outcomes, and evasion behavior and yielded a total of 358 valid responses. The research was conducted with proper statistical analysis, and the statistical techniques employed included primary data collected via SPSS Version 29 and advanced modeling using Structural Equation Modeling-Partial Least Squares (SEM-PLS) through the use of SmartPLS 4.0. The results indicated that the measurement model proved to be both valid and reliable, with Cronbach's alpha values exceeding 0.82 and AVE values above 0.50, indicating good internal consistency and convergent validity. Moreover, the structural model achieved good explanatory power, with R² values of 59% for Customs Evasion, 43% for User Satisfaction, and 100% for Digital Performance Indicators. These findings underscore the significance of user satisfaction as a key outcome of system effectiveness and a valuable tool for enhancing performance and deterrence. More specifically, the results shown how Intelligent System Effectiveness presents a positive and significant impact on User Satisfaction (β = 0.656, p < 0.001), which in turn has a high positive effect on both Digital Performance Indicators (β = 1.000, p < 0.001) and Customs Evasion reduction (β = 0.770, p < 0.001). The mediation analysis also confirmed that User Satisfaction fully mediates the relationship between system effectiveness and performance outcome, as well as between system effectiveness and evasion reduction. This research contributes to theory and practice by demystifying the design and implementation of AI-driven customs systems. It illustrates the importance of valuing both technical system quality and user-centric values in achieving and maintaining optimal performance in the digital space, as well as conformance with the law.

This technical assistance report summarizes the findings from the IMF Fiscal Affairs Department’s September 2025 mission to Phnom Penh, aimed at renewing engagement with the General Department of Customs and Excise (GDCE) and shaping the FY2026 capacity development workplan. Against the backdrop of Cambodia’s moderating economic outlook, with growth expected to ease to 4.8 percent in 2025, the GDCE is pursuing an ambitious modernization agenda aligned with its 2024–2028 Customs Reform and Modernization Strategy. Discussions with senior officials identified several priority areas essential to strengthening revenue mobilization, trade facilitation, and compliance. Key FY2026 priorities include revising the Customs Law to align with international standards, enhancing eCommerce regulation and digital clearance systems, improving Special Economic Zone (SEZ) oversight, and strengthening anti fraud and investigation capabilities to combat trade based money laundering. Additional needs include updating post clearance audit practices, improving risk management approaches, and undertaking a mid cycle review of the GDCE’s reform strategy. While GDCE plans to independently advance its ASYCUDA and broader IT modernization agenda, it seeks technical assistance in several other high impact areas. Development partners including JICA, ADB, and the World Bank continue to play a central role in supporting Cambodia’s customs and revenue initiatives. Strong coordination among partners remains critical to avoiding duplication and ensuring a coherent, strategically aligned support package. The report outlines proposed FY2026 activities and underscores GDCE’s commitment to confirming priorities and finalizing planning steps to advance its modernization objectives.

This article examines the evolution and current challenges of de minimis thresholds worldwide, particularly in the context of rapid e-commerce growth. Originally designed as administrative tools to exempt low-value shipments from customs duties and procedures, these thresholds now face unprecedented pressure resulting from the expansion of digital commerce. The analysis traces the historical development of de minimis regimes across major jurisdictions, evaluates recent reforms driven by e-commerce disruption, and explores the integration of thresholds into non-fiscal legislation addressing environmental and social concerns. Key findings indicate a global shift from fixed monetary thresholds toward risk-based, technologyenabled systems. The article concludes with policy recommendations emphasizing international harmonization, technological innovation, and adaptive regulatory frameworks to balance trade facilitation with revenue protection, consumer safety, and fair competition in the digital economy

In the global dress and particular care request, herbal hair products are one of the swift- growing sectors due to consumers' increased desire for safer, natural, and botanical phrasings. Despite their wide use, different nonsupervisory authorities have veritably different regulations for herbal hair products' labelling and claim validation, which leads to difference in marketing strategies, quality control, and consumer protection. The nonsupervisory fabrics of the United States (FDA), the European Union (EC 1223/2009), India (medicines & Cosmetics Rules BIS), China (NMPA), ASEAN (AHCR), and Canada (NNHPD/ NHP Regulations) are all completely compared in this review, which offers a structured assessment of labelling conditions, obligatory warnings, component protestation rules, permitted claims, and scientific substantiation norms for claim validation. In addition to agitating unborn approaches, similar as the necessity for global botanical standardization alignment, more strict substantiation conditions for claims, and the relinquishment of invariant ornamental labelling norms, this study addresses harmonization gaps. The exploration comes to the conclusion that while nonsupervisory diversity still exists, global trade facilitation and growing consumer mindfulness are causing progressive confluence.

In recent years, with the proposal and steady advancement of the "Belt and Road" Initiative, the New International Land-Sea Trade Corridor in Western China (NILSTC) has emerged as a crucial cross-border logistics channel. Ensuring its orderly and efficient operation is of great significance for enhancing trade facilitation and promoting regional economic cooperation. As an important foundation for the smooth development of cross-border railway transport along the NILSTC, the improvement of transport rules directly affects the effectiveness of cross-border railway transport. It can effectively improve transport efficiency, optimize the transport environment, and thus safeguard the high-quality development of cross-border railway transport along the NILSTC. Therefore, this paper first elaborates on the current situation of cross-border railway transport rules for the NILSTC, then analyzes the existing problems, and finally proposes a series of effective improvement strategies, aiming to provide certain reference for relevant researchers.

This study aimed to evaluate the factors affecting the participation of Tanzanian ports in global trade, with a specific focus on the Port of Dar es Salaam. The port plays a crucial role in facilitating the country’s international trade and serves as a major gateway for several landlocked countries in the East and Central African region. However, despite its strategic importance, the port continues to face challenges that limit its efficiency and competitiveness in the global maritime industry. The research sought to identify and analyse key factors influencing the performance of Tanzanian ports, including infrastructural capacity, operational efficiency, governance structures, technology adoption, and policy frameworks. The study employed a mixed-methods research design, integrating both quantitative and qualitative approaches to allow for a comprehensive understanding of the issues under investigation. Data were collected from a total of 60 respondents, selected through purposive sampling to ensure that only individuals with relevant knowledge and experience in port operations and trade facilitation were included. The primary data were obtained using structured questionnaires, while qualitative insights were gathered through interviews and document reviews. This combination of quantitative and qualitative methods provided a balanced perspective and strengthened the validity of the findings. The results revealed that several interrelated factors such as inadequate infrastructure, bureaucratic procedures, technological limitations, and policy inconsistencies significantly affect the competitiveness of Tanzanian ports in global trade. The study concludes that improving port infrastructure, streamlining customs procedures, enhancing governance, and adopting modern port technologies are critical steps toward increasing Tanzania’s participation in international trade.