Wto Bali Trade Facilitation Agreement

Publié le 17-6-2023 dans Non classé | 0 commentaire

The World Trade Organization (WTO) Bali Trade Facilitation Agreement (TFA) is an important agreement that was reached during the 9th WTO Ministerial Conference in Bali, Indonesia, in December 2013. The agreement is aimed at reducing trade costs, improving transparency, and simplifying procedures for the movement of goods across borders.

The TFA is a legally binding agreement that obliges all WTO members to undertake various commitments, including the establishment of national trade facilitation committees, the publication of information on trade procedures and requirements, the simplification of customs procedures, and the automation of trade processes.

One of the key objectives of the TFA is to reduce trade costs by simplifying and streamlining customs procedures. This includes the use of electronic payments and the implementation of risk management systems to expedite the clearance of goods. Additionally, the agreement calls for the timely release of goods, the establishment of single window systems, and the implementation of measures to prevent corruption and fraud.

The TFA also aims to improve transparency in trade procedures by requiring WTO members to publish information on their trade procedures and requirements. This includes information on import and export formalities, fees and charges, and procedures for the review and appeal of decisions made by customs authorities.

The TFA has the potential to significantly boost global trade by reducing trade barriers and facilitating the movement of goods. According to the WTO, the agreement could increase global trade by up to $1 trillion per year, and create up to 21 million jobs in developing countries.

However, the implementation of the TFA is not without its challenges. Many developing countries lack the infrastructure and resources necessary to fully comply with the agreement`s requirements. To address this, developed countries have committed to providing technical assistance and capacity-building support to these countries.

In conclusion, the WTO Bali Trade Facilitation Agreement is an important agreement that has the potential to significantly boost global trade and economic growth. By simplifying and streamlining customs procedures, improving transparency, and reducing trade costs, the TFA is an important step towards a more open and integrated global trading system.

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