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At a press conference held at the WTO headquarters in Geneva on the same day, Azevedo announced that following the ratification of the Protocol to the Trade Facilitation Agreement by Rwanda, Oman, Chad and Jordan, the number of approved members has now reached 112, exceeding the WTO 164. Two-thirds of the members, the Trade Facilitation Agreement entered into force.
Azevedo said that by approving the agreement, WTO members have fulfilled their commitment to the multilateral trading system. The data shows that the full implementation of the Trade Facilitation Agreement will reduce global trade costs by approximately 14.3%.
In December 2013, the ninth WTO Ministerial Conference reached the first multilateral trade agreement “Bali Package Agreement†since its establishment, and trade facilitation has the most obvious impact on global trade, which can improve the efficiency of cross-border trade. Reduce costs, create jobs, and increase global trade.
WTO members adopted a protocol on the implementation of the Trade Facilitation Agreement in November 2014, after which the protocol was approved by WTO members and two-thirds of the members approved the post-acceptance agreement.
Abstract The Director-General of the World Trade Organization, Azevedo, announced on the 22nd that the Protocol to the Trade Facilitation Agreement has been approved by more than two-thirds of the members of the organization. At the press conference held on the same day at the WTO headquarters in Geneva, Azevedo announced that following Lu...
The Director-General of the World Trade Organization, Azevedo, announced on the 22nd that the Protocol to the Trade Facilitation Agreement had been approved by more than two-thirds of the members of the organization and thus came into force.