EU welcomes entry into force of the WTO Trade Facilitation Agreement

On 22 February 2017 the Trade Facilitation Agreement (TFA) entered into force. The ratifications by Chad, Jordan, Oman and Rwanda meant the deal reached the pre-determined threshold of 110 WTO members required for its immediate entry into force.

This agreement aimed to simplify and clarify international import and export procedures, customs formalities and transit requirements. Make trade-related administration easier and less costly, thus helping to provide an important and much needed boost to global economic growth. EU customs authorities have a role in the implementation of the agreement, acting both as an example to follow and as an engine for further progress in trade facilitation within the EU and at international level.

• Primary Source

ESO: Background information: WTO members fail to agree global trade deal http://www.europeansources.info/record/wto-members-fail-to-agree-global-trade-deal/

ESO: Background information:Press Release: EU welcomes a new WTO fund to support developing countries' customs reforms http://www.europeansources.info/record/press-release-eu-welcomes-a-new-wto-fund-to-support-developing-countries-customs-reforms/

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