Expeditors Newsflash

WTO Announces Chile and Swaziland have Ratified TFA

Posted by Sarah Lilly on 12/9/16 11:46 AM
On November 21, 2016 the World Trade Organization (WTO) announced that Chile and Swaziland have now ratified the new Trade Facilitation Agreement (TFA). Ninety-eight countries have now ratified the TFA, including Chile and Swaziland. “The TFA will enter into force once two-thirds of the WTO membership has formally accepted the agreement.”

The first section of the TFA covers the movement, clearance of freight, and improving the timing of the process. The second section allows Least Developed Countries (LDC’s) to review specific provisions and coordinate the release of those provisions on a workable timetable for that country. The last section determines that a permanent committee should be established at the WTO, with the main focus on trade facilitation.

The discussions for the TFA were concluded at the Bali Ministerial Conference in December 2013. To learn more on the TFA, please see:

https://www.wto.org/english/news_e/news16_e/fac_21nov16_e.htm

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