The multilateral trade system reached a major milestone on Wednesday 22 February, with the entry into force of the WTO trade facilitation agreement (TFA) – which was concluded at the WTO ministerial conference in Bali in 2013. The TFA contains a package of rules to simplify and ease customs procedures, and to increase the participation of developing countries in world trade. When fully implemented, it could cut trade costs by 14.3% and increase the volume of world trade in goods by...