APEC trade transparency worth $148 bln - World Bank

"APEC member economies perform relatively well with regard to transparency," the report was quoted by Reuters as saying. "Empirical analysis suggests however that reform in areas such as 'hidden' trade barriers and unofficial payments has considerable potential to raise intra-regional trade."

APEC's economies -- which include the United States, Japan, China and Russia -- account for nearly half of global trade and 56 percent of the world's gross domestic product.

Making trade policy more predictable would include moving toward flatter tariff structures, making import and export delays less variable, lowering uncertainties surrounding bribes, and reducing favouritism in administrative decision-making.

Paying bribes can often be part of the negotiations between an exporter or importer and a customs agent, the report said.