Trade Facilitation Agreement Wto

19 Dec

4.4 Each member is based on a risk assessment based on appropriate selectivity criteria. These selectivity criteria may include, among other things, the harmonized system code, the nature and designation of goods, the country of origin, the country of origin, the value of the goods, the registration of distributor compliance and the type of means of transport. Currently, the cost of international trade is about $2 trillion. [4] This situation is due to a number of factors, including unnecessary customs procedures, marginal taxes and unnecessary duplication. [4] The economic benefits of the Trade Facilitation Agreement are not yet fully discernible and measured. However, estimates of the economic benefits resulting from the agreement are widespread. Estimates range from about $68 billion to nearly $1 trillion per year. According to the OECD, the Trade Facilitation Agreement has the capacity to reduce trade costs by 14.1% for low-income countries, 12.9% for middle-income countries and 12.9% for middle-income countries by 14.1%. This would indicate a series of gains of about $9 to $133 per year per person on the planet. These large margins indicate that there are still some uncertainties related to the trade agreement. [5] Bureaucratic delays and “bureaucracy” are a burden on traders for cross-border trade. Trade facilitation – the simplification, modernization and harmonization of export and import processes – has therefore become an important issue for the global trading system.

Kick-off Your national trade facilitation committees by welcoming traders: public-private partnerships are the cornerstones for the implementation of the WTO TFA to succeed. Who knows better than traders the bottlenecks in business procedures? It is therefore important to invite them to participate in the commissions. In addition, the NTF states should combine synergies with other national committees, such as. B health and plant health regulatory committees or technical barriers to trade and the promotion of regional platforms.

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