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How many countries have ratified the TFA?
Let us explore this topic using the WTO TFA Database, which encompasses data from 84 developing countries and 27 LDCs that have ratified the Agreement as of 20 February 2020. 149 WTO Members have already ratified the TFA.
When did Uganda ratify the WTO Trade Facilitation Agreement?
Ratified on the 27 June 2018.
When was the trade facilitation agreement?
The Trade Facilitation Agreement (TFA) is a binding multilateral trade agreement between members of the World Trade Organization (WTO). The TFA was concluded in December 2013 and it officially entered into force in February 2017.
What does the trade facilitation agreement do?
The agreement will increase customs efficiency and effective collection of revenue, and help small businesses access new export opportunities through measures like transparency in customs practices, reduction of documentary requirements, and processing of documents before goods arrive.
How many WTO members have ratified the TFA as December 31 2021?
According to an update the WTO Secretariat provided at the meeting, 36 members have committed to implementation dates for 136 TFA commitments, such as publishing trade procedures or hastening the release of perishable goods, ranging from 1 July to 31 December 2021.
Why is the TFA critical to world trade?
The WTO estimates that the full implementation of the TFA could boost global merchandise exports by up to $1 trillion, with up to $730 billion accruing to developing countries, and reduce trade costs by an average of over 14 percent (nearly 17 percent for least-developed countries).
Is Uganda a member of World Customs Organisation?
The WCO East and Southern Africa Region consist of 24 Member Countries; Angola, Botswana, Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Rwanda, Seychelles, Somalia , South Africa, South Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.
How is WTO facilitating international trade?
The objective of the WTO’s trade facilitation negotiations is to clarify and improve three articles of the General Agreement on Tariffs and Trade (GATT) concerning: the transit of goods. fees and formalities (documentation and procedures) the transparency of laws and regulations.
How does the WTO facilitate international trade?
The WTO’s main aim is to promote free trade by lowering tariffs and other barriers. It does this through agreements negotiated and signed by most of the world’s trading nations. The WTO then polices these agreements to make sure all nations stick to the rules.
Is trade facilitation agreement in force?
The Trade Facilitation Agreement (TFA) entered into force on 22 February 2017. It applies only to the WTO members that have accepted it.
How does WTO facilitate free trade for all countries?
Is Uganda the Chair of WCO?
Uganda has taken over leadership of the World Customs Organization (WCO) Council. Uganda’s Commissioner for Customs, Dicksons Kateshumbwa has been elected today as the Chairperson of the WCO Council.
Is China part of the WCO?
The Region is represented at WCO Finance Committee meetings by four elected regional members. The current regional members of the Finance Committee are China, India, Japan & Korea. The Regional representatives at WCO Audit Committee are Bangladesh and Indonesia.
How many WTO Agreement are there?
There are about 60 agreements and decisions totalling 550 pages. Negotiations since then have produced additional legal texts such as the Information Technology Agreement, services and accession protocols. New negotiations were launched at the Doha Ministerial Conference in November 2001.
What is trade facilitation WTO?
Trade facilitation—the simplification, modernization and harmonization of export and import processes—has therefore emerged as an important issue for the world trading system.
How does the WTO facilitate international business?
The WTO facilitates trade negotiations among countries by providing a framework to structure the agreements, as well as providing dispute resolution mechanisms. It creates an international legal framework that ensures the smooth exchange of goods and services among the member countries.
Who is the current chairman of WCO?
Dr. Kunio Mikuriya has been Secretary General of the World Customs Organization (WCO) since 1 January 2009.
Who does the WTO Trade Facilitation Agreement apply to?
It applies only to the WTO members that have accepted it. In respect of each member that accepts the TFA after its entry into force, it will take effect upon acceptance, in accordance with Article X:3 of the Marrakesh Agreement Establishing the World Trade Organization.
When did the WTO TFA enter into force?
The Agreement The TFA entered into force on 22 February 2017 after two-thirds of the WTO membership completed their domestic ratification process. III. Benefits of the TFA
What is a National Committee on trade facilitation?
Each Member shall establish and/or maintain a national committee on trade facilitation or designate an existing mechanism to facilitate both domestic coordination and implementation of the provisions of this Agreement. 1. For the purpose of this Agreement, the term “Member” is deemed to include the competent authority of that Member.
Where can I get technical assistance for trade facilitation?
Technical assistance for trade facilitation is provided by 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).