With the removal of many trade policy barriers, further international economic integration depends largely on the reduction of trade costs originating in the transport sector. This Round Table presents three papers focusing on the structure and development of international transport costs over the past decades and the benefits to be expected from investment in international transport facilities and the reduction of the costs of crossing borders. The papers were provided by David Hummels (Purdue University), Anthony Venables (London School of Economics and Centre for Economic Policy Research) as well as Harry Broadman and John S. Wilson (World Bank).