Press Release: EU welcomes a new WTO fund to support developing countries’ customs reforms

The European Union welcomed the World Trade Organization's announcement on the 22 July 2014 that it will set up a fund to help Developing Countries and Least Developed Countries implement the Trade Facilitation Agreement. The deal, approved last December by the WTO's 159 members at the time, aims to streamline customs procedures around the world.

The purpose of the new "Trade Facilitation Facility", as the fund is called, is to make sure that every developing country has the technical assistance it needs to implement the Agreement. The Facility will also ensure the coherence and transparency of the existing customs-related technical assistance and make it more effective.

• Primary Source

ESO: Background information: EU stands ready to support developing countries realize the benefits of a WTO Trade Facilitation Agreement http://www.europeansources.info/record/press-release-eu-stands-ready-to-support-developing-countries-realize-the-benefits-of-a-wto-trade-facilitation-agreement/

ESO: Background information: Ninth WTO Ministerial Conference (Bali, Indonesia, 3-6 December 2013) http://www.europeansources.info/record/ninth-wto-ministerial-conference-bali-indonesia-3-6-december-2013/

Website: World Trade Organization https://www.wto.org/index.htm

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