The World Trade Organization (WTO) Agreement on Trade Facilitation PDF is a comprehensive document that outlines the rules and regulations governing international trade. This agreement was signed in Bali, Indonesia in December 2013 and came into effect in February 2017.
Trade facilitation is the process of simplifying and streamlining international trade procedures to make them more efficient and cost-effective. The WTO Agreement on Trade Facilitation aims to achieve this by reducing transaction costs, improving transparency, and increasing cooperation among member countries.
The agreement includes several provisions that aim to improve trade facilitation, such as the implementation of a single window system for trade-related information, the establishment of national trade facilitation committees, and the adoption of risk management techniques to streamline customs procedures.
One of the key highlights of the WTO Agreement on Trade Facilitation PDF is the provision for developing countries to receive technical assistance and capacity building support to implement the measures outlined in the agreement. This ensures that all member countries can benefit from the improved trade facilitation measures.
The Agreement also includes provisions for the establishment of a Trade Facilitation Agreement Facility to provide financial and technical assistance to developing countries. This facility is funded by donor countries and provides assistance for capacity building and technical assistance to ensure that all member countries can comply with the measures outlined in the agreement.
Overall, the WTO Agreement on Trade Facilitation PDF is a crucial document that aims to improve international trade by reducing transaction costs, improving transparency, and increasing cooperation among member countries. The provisions outlined in the agreement ensure that all member countries can benefit from the improved trade facilitation measures, and the establishment of the Trade Facilitation Agreement Facility ensures that developing countries have access to the necessary support to implement these measures.