IRU welcomes the World Trade Organization’s historic Trade Facilitation Agreement (TFA) coming into force today. The development marks a milestone for the role of transport in boosting global trade and development, with tried and tested UN trade and transport conventions – such as the TIR and Harmonization Conventions – as the most effective way to implement the TFA’s objectives.
The purpose of the TFA is to expedite customs procedures by cutting red tape, promoting customs modernisation with a focus on technological innovations, and providing simplified, harmonised and seamless procedures to allow goods to move along the supply chain more easily, more rapidly and at lower cost.
WTO’s 160 Member States sealed the significant global trade deal in December 2013 during the 9th WTO Ministerial Conference which was held in Bali, Indonesia. After three years, the required two-thirds of the WTO Membership have now completed their domestic ratification process, signalling a clear, political, legal and practical commitment to the facilitation of trade and transport.