The Trade Facilitation Agreement (TFA) – a multilateral trade deal concluded since the establishment of the World Trade Organisation (WTO) in 1995 - enters into force.
The ratifications by Chad, Jordan, Oman and Rwanda today means the deal has reached the pre-determined threshold of 110 WTO members required for its immediate entry into force. This agreement aims to simplify and clarify international import and export procedures, customs formalities and transit requirements.
The agreement should help improve transparency, increase possibilities for small and medium-sized companies to participate in global value chains, and reduce the scope for corruption. More.
19th June 2018