Wto Trade Facilitation Agreement

WTO Trade Facilitation Agreement in 2013

United States views on international law [1] in relation to World Trade Organization Trade Facilitation Agreement: On December 7, 2013, the Ministerial Conference of the WTO in Bali concluded a Trade Facilitation Agreement. The text of the agreement is available at (link resource) wto.org/english/tratop_e/tradfa_e/tradfa_e.htm. The new agreement was reached after nine years of negotiations and at the end of a five-day ministerial that addressed development of smaller countries, trade streamlining, and food security improvement. The agreement provides for faster and more efficient customs procedures and for technical assistance and capacity building in this area. See the Office of the U.S. Trade Representative (“USTR”) press office blog post on the agreement, available at (link resource) ustr.gov/about-us/press-office/blog/2013/December/what-theyresaying-WTO-trade-facilitation-agreement.

Some Aspects of Wto Trade Facilitation Agreement

President Obama welcomed the new deal, which he said, “will eliminate red tape and bureaucratic delay for goods shipped around the globe. Small businesses will be among the biggest winners, since they encounter the greatest difficulties in navigating the current system. By some estimates, the global economic value of the new WTO deal could be worth hundreds of billions of dollar.” President Obama's statement is available in full at (President's Subdomain) whitehouse.gov/the-press-office/2013/12/08/statement-president-worldtrade-organization-trade-agreement.

Resources

Notes

1. Wto Trade Facilitation Agreement in the Digest of United States Practice in International Law