Wto Trade Facilitation Agreement

In addition, both developing and least developed countries had to provide the WTO with information on contact points for the coordination of these TACBs (Article 22.3). Since 22 February 2019, only five developing countries have met this commitment. This low compliance makes it difficult for development partners to coordinate aid and the willingness of these countries to carry out ambitious trade facilitation projects. Currently, the cost of international trade is about $2 trillion. [4] This situation is due to a number of factors, including unnecessary customs procedures, marginal taxes and unnecessary duplication. [4] The economic benefits of the Trade Facilitation Agreement are not yet fully discernible and measured. However, estimates of the economic benefits resulting from the agreement are widespread. Estimates range from about $68 billion to nearly $1 trillion per year. According to the OECD, the Trade Facilitation Agreement has the capacity to reduce trade costs by 14.1% for low-income countries, 12.9% for middle-income countries and 12.9% for middle-income countries by 14.1%. This would indicate a series of gains of about $9 to $133 per year per person on the planet. These large margins indicate that there are still some uncertainties related to the trade agreement. [5] Each member organises regular consultations, if necessary, between its border agencies and its distributors or other stakeholders in its territory.

12.1 This article does not prevent a Member from concluding or maintaining a bilateral, multilateral or regional agreement on the exchange or exchange of customs information and data, even on a safe and fast basis, for example on an automatic basis. B or before the shipment arrives. In the two years since it came into force, 141 out of 164 countries have ratified the agreement, representing 86% of WTO membership (the TFA being applied on the basis of the most favoured nations). 12 of the other 22 countries are LDCs. Nine countries have not ratified the TFA and have not communicated the commitments of Categories A, B and C.

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