Transport costs, together with information and transaction costs, play the most important role, and therefore their decline has the largest potential to further bring down the overall trade costs. Lower costs associated with logistics, trade policy barriers and crossing a border can also bring substantial benefits. In the next subsection, we analyse the extent to which new technologies could play a role in the declining trend and outline the possibilities for further efficiency gains. Section C.3 then builds on this analysis and provides a quantification of potential trade gains from a technology-induced decline in trade costs.