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April 13, 2021

Trade Facilitation Agreement Of The World Trade Organization

Filed under: Uncategorized — Tom Moore @ 7:28 AM

Shortly before the Ministerial Conference in Bali in December, the development process, with the direct assistance of the Director-General, had resulted in a quasi-clean text. Until now, differences of opinion have been limited to a small number of members who were able to find a solution at a bilateral meeting that allowed them to return as members. The former litigation and discontent groups such as S-D and Customs Cooperation were now in brackets. Although the trade facilitation agreement has not yet been fully finalized by the Ministerial Conference, it was in good shape to be brought to and concluded. The ministerial conference led to new rounds of negotiations and differences of opinion, but the members finally reached agreement on a text on the agreement. After a decade of negotiations, the WTO finally concluded its trade facilitation agreement at the end of 2013, which was extended to 2014. [2] The Trade Facilitation Agreement (TFA) is a binding multilateral trade agreement between members of the World Trade Organization. The TFA was completed in December 2013 and officially entered into force in February 2017. What is positive is that seven LDCs have already communicated their indicative deadlines, while the deadline expires in two years (February 22, 2021), sending a clear signal to donors about their commitment to implement the agreement.

(c) To ensure that the measures being reformed in private sector trade facilitation are taken into account in ancillary activities; Since 2005, some $3.9 billion has been spent on technical and financial assistance to facilitate trade and significant new resources have been mobilized. The private sector has an important role to play in identifying key challenges and opportunities and providing skills and support for targeted AT reforms. Article 23 of the TFA requires each WTO member to establish or maintain a “national trade facilitation committee” comprising government authorities, customs and businesses. These committees play a central role in supporting effective implementation of ADTs to maximize the benefits of governments, businesses and consumers. 1.1 Each member offers merchants and other interested parties, where possible and in accordance with its domestic law and legal order, the opportunity for merchants and other interested parties to introduce or amend general laws and regulations, including goods in transit. to take a stand.

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