BMWi - Federal Ministry for Economic Affairs and Energy - Minister Zypries: global trade facilitation becomes a reality - support for developing countries
Minister Zypries: global trade facilitation becomes a reality - support for developing countries
After lengthy negotiations, the WTO Trade Facilitation Agreement (TFA) has finally entered into force. The agreement on trade facilitation provides for transparent customs procedures and binding tariff information, and aims at the introduction or improvement of electronic advance notification procedures and good cooperation between customs authorities.
Federal Minister Brigitte Zypries said: "Free and fair trade for all countries - this is the right answer to protectionist trends. This agreement facilitates trade, cuts customs red tape and costs, and benefits in particular developing countries. It is the first multilateral trade agreement that has entered into force since the foundation of the World Trade Organization in 1995. This is not only a major impetus for international trade and the WTO, but also good news for all of us."
Support for the implementation of the agreement will be provided to developing countries and in particular to LDCs. For this purpose, Germany, together with other industrial states and in cooperation with companies operating around the world, has established the Global Alliance for Trade Facilitation. The Alliance pools resources from governments and business to promote the implementation of the agreement in developing countries.