Trade Facilitation Agreement Status

Notification, notification, notification: Developing and least developed countries that are willing to bear in mind the specific and differentiated provisions of the CPA must meet the implementation notification requirements set out in the agreement. These notifications shall be part of the agreement. Developing countries cannot expect to benefit from these flexibilities if they do not respect their part of the agreement. the TFA contains a number of transparency obligations concerning the substantive provisions of the agreement with regard to (i) online descriptions of trade procedures; (ii) contact points to answer questions; (iii) the operation of individual windows; (iv) the use of customs agents; and (v) contact points for the exchange of customs information. Launch your National Trade Facilitation Committees by inviting traders: Public-private partnerships are the cornerstones needed to implement the WTO`s TFA to succeed. Who knows better than merchants the bottlenecks in business processes? It is therefore important to invite them to participate in the committees. In addition, NTFC should share synergies with other national committees, such as sanitary and phytosanitary regulatory committees or committees on technical barriers to trade, and promote regional platforms. The TFA aims to speed up trade procedures, including the movement, release and registration of goods. Its full implementation could boost global trade by $1 trillion a year and reduce trade costs by 14.3 percent for low-income countries and more than 13 percent for middle-income countries. Bureaucratic delays and “bureaucracy” weigh on traders for cross-border trade. Trade facilitation — the simplification, modernization and harmonization of export and import processes — has therefore become an important issue for the global trading system. It should be noted that the Democratic People`s Republic of Laos and Malawi are the only LDCs to have reported the operation of their simple wind turbine systems (where traders submit regulatory documents in one place). It is estimated that full implementation of the TFA could reduce trade costs by an average of 14.3 percent and increase global trade by $1 trillion a year, with the biggest profits being recorded in the poorest countries.

For the first time in the history of the WTO, the requirement to implement the agreement is directly linked to the country`s ability to do so. . . .