The WTO, WTO members and other intergovernmental organizations, including the World Bank, the World Customs Organization and the United Nations Conference on Trade and Development (UNCTAD), provide technical assistance to trade facilitation. In July 2014, the WTO announced the creation of a trade facilitation mechanism that helps developing countries and LDCs implement the Trade Facilitation Agreement. The facility came into force on 27 November 2014 with the adoption of the Trade Facilitation Protocol. Bureaucratic delays and “bureaucracy” weigh on traders for cross-border trade. Trade facilitation – the simplification, modernization and harmonization of export and import processes – has therefore become an important issue for the global trading system. Full implementation of FTAs is estimated to reduce trade costs by an average of 14.3% and boost world trade by up to $1 trillion per year, with the highest growth in the poorest countries. For the first time in the history of the WTO, the implementation of the agreement is directly linked to the country`s ability to do so. A Trade Facilitation Mechanism (TFAF) has been set up to ensure that developing and least developed countries receive the assistance they need to take full advantage of the benefits of the TFA. Traders in developing and industrialized countries have long stressed the enormous “administrative burden” that still weighs on the cross-border transfer of goods and which is a particular burden for small and medium-sized enterprises. The TFA contains provisions to expedite the transfer, release and release of goods, including goods in transit.
Measures are also planned for effective cooperation between customs and other relevant authorities on trade facilitation and tariff compliance. It also contains provisions for technical assistance and capacity building in this area. The agreement will help to improve transparency, increase opportunities for participation in global value chains and reduce opportunities for corruption. The International Air Transport Association (IATA) has issued guidelines to ensure that the air cargo industry is ready to support the handling, transportation and distribution of a large-scale COVID 19 vaccine. To take advantage of these flexibilities, they must classify all measures into categories A, B and/or C which have the following implementation deadlines: The Trade Facilitation Agreement has three sections: to benefit from the TDS, one member must classify any provision of the agreement, as defined below, and inform other WTO members of these categorisations in accordance with the specific deadlines described in the agreement (see below). Aid for Trade Global Review, World Trade Organization (WTO) Thursday, July 4, 8:00-11:45 Space 11111 During this year`s Global Review, the TFAF will host the WTO`s first facilitation dispute with the World Bank Group and DFID! Find us in the atrium on July 4 at 5:30 pm Section I contains provisions to speed up the movement, release and release of goods, including goods in transit.