A major milestone for the global trading system was reached on 22 February 2017 when the first multilateral deal concluded in the 21 year history of the WTO entered into force. Four more ratifications of the Trade Facilitation Agreement (TFA) were handed over to Director-General Roberto Azevêdo, taking the total number above the two-thirds of WTO’s 164 members needed for the Agreement to enter into force.
The Trade Facilitation Agreement seeks to expedite the movement, release and clearance of goods across borders. Its entry into force launches a new phase for trade facilitation reforms all over the world and creates a significant boost for commerce and the multilateral trading system as a whole.
Learn more at www.wto.org/tradefacilitation