Brussels, 09/09/2015 (Agence Europe) - On Wednesday 9 September, the European Parliament gave its approval in Strasbourg to the EU's ratification of the WTO trade facilitation agreement (TFA).
The MEPs approved the resolution compiled by Pablo Zalba Bidegain (EPP, Spain) by 548 votes in favour, 109 against and 40 abstentions. The way is now paved for the Council's adoption of the EU's ratification instrument for the TFA, at a vote in early October.
Concluded during the 9th WTO ministerial conference in Bali in December 2013 as part of a package of measures known as the Bali package that were negotiated in the framework of the Doha round, and intended for developing countries, the TFA contains a raft of rules for simplifying and easing customs procedures and increasing the participation of developing countries in world trade.
The TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.
The TFA will enter into force once two thirds of the WTO member countries have completed their domestic ratification process. At this stage, 16 countries have completed ratification - Australia, Belize, Botswana, China, Hong Kong, Japan, Malaysia, Mauritius, Nicaragua, Niger, Singapore, South Korea, Switzerland, Taiwan, Trinity and Tobago, and the USA. (Emmanuel Hagry)