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Developing countries submit WTO trade facilitation commitments with ITC support

Published on June 22, 2015

With assistance from ITC in 2014, eight developing countries formally identified and announced binding commitments to improve customs and border procedures, with a dozen more such notifications under the Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO) in the pipeline. 

The agreement, concluded in December 2013 and written into WTO rules 11 months later, promises to be an important tool in helping developing countries and least developed countries (LDCs) reduce costs linked to international trade. This is particularly crucial for small and medium-sized enterprises (SMEs), which often lack the capacity, personnel and resources to navigate complicated border procedures. 

Upon entry into force, the agreement will create binding obligations for WTO members to improve customs procedures, transparency and efficiency. However, before some TFA provisions become binding, the agreement’s ground-breaking development-oriented provisions specify that developing countries and LDCs must receive the technical and financial assistance required to implement them. Read more. Source | ITC News