Nairobi, 18/12/2015 (Agence Europe) - At the 10th ministerial conference of the World Trade Organisation (WTO) on Thursday 17 December, WTO Director-General Roberto Azevedo hailed the efforts taken by the member countries to ratify and thus enable implementation of the trade facilitation agreement (TFA). He also welcomed the announcements of contributions made by governments and the private sector to help developing countries and the least developed countries (LDCs) implement the TFA.
Azevedo has received six further ratifications of the TFA this week (from Burma/Myanmar, Norway, Swaziland, Ukraine, Vietnam and Zambia) - bringing the number of WTO member countries to 63 that have formally accepted the TFA.
Concluded at the last ministerial conference in Bali in December 2013, the TFA contains a series of rules for simplifying and easing customs procedures, and for increasing the participation of developing countries in global trade.
The TFA will enter into force when two thirds of the WTO member countries (in other words, 162 countries - since Kazakhstan's membership on 30 November) have ratified it.
According to an initial WTO estimate published in October (see EUROPE 11420), implementation of the TFA would reportedly generate an increase in global goods exports of around $750 billion to $1 trillion per year, with a rise of $170 billion to $730 trillion per year for exports from developing countries, and a rise of $310 billion to $580 billion per year for those from developed countries. Over the 2015-2030 period, the TFA would reportedly boost global export growth by 2.7% per year and bring an estimated 0.5% gain in growth of global GDP per year. (Original version in French by Emmanuel Hagry)