Axxess International Inc.
Sixteen Countries Have Ratified the WTO Trade Facilitation Agreement
China became the 16th member of the World Trade Organization (WTO) to formally ratify the Trade Facilitation Agreement (TFA) when Ambassador Jianhua Yu submitted his country's instrument of acceptance of the TFA to WTO Director-General Roberto Azevêdo on September 4th.
Concluded at the WTO's 2013 Bali Ministerial Conference, the TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit.
It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.
The TFA will enter into force once two-thirds of the WTO membership has formally accepted the Agreement. In addition to China, the following WTO members have so far ratified the agreement: Hong Kong China, Singapore, the United States, Mauritius, Malaysia, Japan, Australia, Botswana, Trinidad and Tobago, the Republic of Korea, Nicaragua, Niger, Belize, Switzerland and Chinese Taipei.
Source: http://www.axxessintl.com/en/news/canada/?document=2169facilitation.php
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