World Trade Facilitation Agreement

Full implementation of FTAs is estimated to reduce trade costs by an average of 14.3% and boost world trade by up to $1 trillion per year, with the highest growth in the poorest countries. For the first time in the history of the WTO, the implementation of the agreement is directly linked to the country`s ability to do so. A Trade Facilitation Mechanism (TFAF) has been set up to ensure that developing and least developed countries receive the assistance they need to take full advantage of the benefits of the TFA. 12.1 This article does not prevent a Member from concluding or maintaining a bilateral, multilateral or regional agreement on the exchange or exchange of customs information and data, even on a safe and fast basis, for example on an automatic basis. B or before the shipment arrives. It should be noted that the Democratic People`s Republic of Lao and Malawi are the only LDCs to have provided information on the operation of their single-desk systems (where distributors submit regulatory documents in one place). Section III contains institutional and final provisions on relations with other WTO agreements, the post-entry membership process of the agreement, the WTO Trade Facilitation Committee and the national trade facilitation committees to be set up in all WTO member states. The WTO, WTO members and other intergovernmental organizations, including the World Bank, the World Customs Organization and the United Nations Conference on Trade and Development (UNCTAD), provide technical assistance to trade facilitation. In July 2014, the WTO announced the creation of a trade facilitation mechanism that helps developing countries and LDCs implement the Trade Facilitation Agreement. The facility came into force on 27 November 2014 with the adoption of the Trade Facilitation Protocol. 12.2 This article should not be interpreted in the sense that it alters or affects a member`s rights or obligations under these bilateral, plurilateral or regional conventions, or regulates the exchange of customs information and data under these other agreements.

2.3 Members are invited to provide other information related to internet commerce, including relevant trade-related legislation and other items mentioned in paragraph 1.1.

About Ethan 72 Articles
Post by EA Partners, LLC