Trade Facilitation Agreement will reduce transaction costs: WTO Chief
The Dollar Business Bureau The Bali Trade Facilitation Agreement (TFA) will make the movement of goods across borders faster, easier and cheaper. It is estimated that this Agreement will reduce trade costs by up to 15% in developing countries. The above statement was made by World Trade Organisation (WTO) Director-General (DG) Roberto Azevêdo, at an information sharing session in Kuala Lumpur recently. Thanking Malaysia for agreeing to deposit its instrument of acceptance of the Trade Facilitation Agreement in the coming days, and hoping that Malaysia can help other members ratify the agreement as soon as possible, the DG urged Malaysia, as ASEAN chair, to continue to show leadership in advancing other WTO initiatives this year, including moving the Doha Development ...
Least-developed countries to facilitate markets for products
The Dollar Business Bureau The least-developed countries (LDCs) group at the World Trade Organization (WTO) presented an “elements for discussion” paper aimed at triggering an exchange on how members are responding to the 2013 Decision and, ultimately, identifying ways to facilitate market access for LDC products. The LDCs took the floor at the April 30, 2015, meeting of the WTO’s Committee on Rules of Origin to urge fellow members to move forward on implementing the December 2013 Bali Ministerial Decision on preferential rules of origin for LDCs, said an WTO official release. Members also agreed at the meeting to initiate an “educational exercise” to better understand the impact that national non-preferential rules of origin have on international trade. Speaking for the ...
Trade is a great leveller, but barriers still remain: WTO
The Dollar Business Bureau | @TheDollarBiz “We are living off the liberalisation and reforms of the past.” - Roberto Azevêdo, DG, WTO Trade will be the major driver of development in the 21st century, and countries must facilitate trade reforms and remove trade barriers to help the Least Developed Countries (LDCs) benefit from multilateral trade, Roberto Azevêdo, Director-General of the World Trade Organisation (WTO) said at the launch of the annual World Trade Report yesterday. According to the WTO report, global trading system has helped reduce the gap between developed and developing countries in the last two decades. The report speaks about the three major waves of economic development the world has seen since the industrial revolution of the late ...
