WTO members hailed the entry into force of the Trade Facilitation Agreement (TFA) as a historic achievement at today’s meeting of the General Council. In welcoming this milestone, members pledged to advance work on implementing the TFA so that the full benefits of the Agreement can be reaped.
The TFA, the first multilateral deal concluded in the 21 year history of the WTO, entered into force on 22 February after the organization obtained the needed acceptance from two-thirds of its 164 members for the agreement to take effect. The TFA seeks to expedite the movement, release and clearance of goods across borders and creates a significant boost for the multilateral trading system.
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