WTO pushing for trade facilitation deal by December

GENEVA – Macedonia has become the 50th government to ratify the WTO’s landmark Trade Facilitation Agreement (TFA), which seeks to boost growth by cutting red tape at borders. Many companies - particularly SMEs - are currently held back from exporting due to burdensome, and sometimes unpredictable, customs requirements.

A recent study by the OECD estimated that border inefficiencies currently add around 15% on average to the cost of trading internationally - placing a far higher burden on companies than many existing tariff barriers.
A total of 108 countries – two-thirds of the WTO's 161 strong membership - must ratify the TFA for it to enter into force. The International Chamber of Commerce is calling on governments to expedite ratification of the agreement ahead of the WTO's 10th Ministerial Conference, known as MC10, in Nairobi this December. www.wto.org www.iccwbo.org (ATI).