WTO: Trade Facilitation Agreement

On February 22, 2017, the Trade Facilitation Agreement (TFA) entered into force, once the 110 World Trade Organization (WTO) members’ threshold required for its implementation was reached.Early negotiations on the deal date back to 2013, when it was decided to involve all the members of the WTO and the European Union committed financial support to this agreement that, as stated by the European Commission, is the most important multilateral trade deal since the establishment of the WTO in 1995.The main objective of the TFA is to improve and facilitate global import and export procedures.More information