Recognizing the importance of harmonized regulations, practices, and streamlined processes in the context of cross-border aircraft transactions, a new agreement between the International Civil Aviation Organization (ICAO) and the Aviation Working Group (AWG) will facilitate capacity building initiatives for States, particularly in developing States, to further enhance safety and efficiency in these processes. This work will focus on the critical areas of cross-border transferability of aircraft and compliance with the Convention on International Interests in Mobile Equipment and its Aircraft Protocol (the Cape Town Convention). It builds upon longstanding cooperation between the two organizations. (....)