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The WTO Trade Facilitation Agreement – Potential Impact on Trade Costs

WTO_AGREEMENT.JPGThe WTO Agreement on Trade Facilitation was concluded at the Bali Ministerial in December 2013. The OECD has since re-calculated the potential benefits of the Agreement for various groups of countries, using the OECD Trade Facilitation Indicators (TFIs) and taking into account the fact that, in reaching agreement, WTO Members set aside a few provisions from their original agenda and cast a number of others on a “best endeavours” basis.