The Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO) celebrated this Tuesday (22.02.2022) five years since its entry into force, which took place on February 22, 2017.
Following successful ratification, this instrument, which establishes multilateral rules that seek to address specific procedural obstacles to fstreamline business procedures, continues to show progress. According to WTO data, 154 out of 168 of members (91%) have approved it. There is also progress in notifications submitted by countries indicating a commitment to implement the 74,3% of AFCS obligations.
La WTO Director-General Ngozi Okonjo-Iweala He said: “The efforts of WTO members to implement the TFA over the past five years have been vital to the resilience of the global supply chain.” He noted that “…simplified trade procedures, accelerated approvals for perishable goods and the establishment of information portals helped ensure that food, vaccines, medical products and other essential supplies continue to reach people despite difficult conditions.”
However, Okonjo-Iweala clarified: “there is more work to be doneHe argued that success will be measured by how workers, small businesses and many developing economies - among those hardest hit by the pandemic - can reap the benefits through reduced time and cost of marketing their goods and services.
The WTO representative stated, in this regard, that "the full implementation of the TFA, supported by aid for the development of Global from partners, will be necessary for economies to recover and better withstand future shocks."
According to the first TFA review report, requests for technical assistance and capacity building submitted by developing and least developed countries include: human resources and training, assistance to amend laws or implement new ones, and information and communication technologies.
Another essential component for the implementation of the AFC is the partnership and collaboration. This will happen by discussing together the needs for reforms and modifications. At the end of 2022, member countries, with the support of the WTO Secretariat, will hold an anniversary event to assess implementation and further work, the Organization said.WTO Press Release)
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