Wto Trade Facilitation Agreement Parties

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The OECD estimates that up to 7% of $12 trillion in international trade is swallowed up each year by the cost of documentation. 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. 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. The TFA aims to expedite trade procedures, including the transfer, release and release of goods. Its full implementation could boost global trade by $1 trillion per year and reduce trade costs by 14.3% for low-income countries and more than 13% for middle-income countries. Section II of the agreement contains innovative special and differentiated treatment provisions that link implementation by developing countries and LDCs to the acquisition of the ability to implement the agreement for the first time in WTO history (see box). Kick-off Your national trade facilitation committees by welcoming traders: public-private partnerships are the cornerstones for the implementation of the WTO TFA to succeed. Who knows better than traders the bottlenecks in business procedures? It is therefore important to invite them to participate in the commissions. In addition, the NTF states should combine synergies with other national committees, such as. B health and plant health regulatory committees or technical barriers to trade and the promotion of regional platforms.

The second anniversary of the agreement is an excellent time to verify the level of ratification, notification of implementation and transparency of the AFA. Each member organises regular consultations, if necessary, between its border agencies and its distributors or other stakeholders in its territory. (c) To ensure that the measures being reformed in private sector trade facilitation are taken into account in ancillary activities; 1.1 In order to minimize the frequency and complexity of import, export and transit formalities, reduce and simplify import, export and transit documentation requirements, and take into account policy objectives and other legitimate factors, such as changes in circumstances, new information, relevant business practices, availability of techniques and technologies , international best practices and stakeholder input, each member reviews these documentation requirements and, on the basis of the results of the review, ensure that these documentation requirements and formalities are: 1.5 The Committee maintains close contacts with other international trade facilitation organizations. , such as the WCO, to provide the best possible advice for the implementation and management of this agreement and to avoid unnecessary duplication.

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