Oct 29 , 2015
News
Pakistan ratifies WTO’s Trade Facilitation Agreement
sajid aziz
KARACHI: Pakistan has ratified the WTO’s new Trade Facilitation Agreement (TFA), making it the 51st WTO member to do so.
According to reports from Geneva, Switzerland, Ambassador Syed Tauqir Shah presented Pakistan’s instrument of acceptance to Director General Roberto Azevêdo on 27 October. Concluded at the WTO’s 2013 Bali Ministerial Conference, the TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.
The TFA will enter into force once two-thirds of the WTO membership has formally accepted the agreement.
Courtesy www.dailytimes.com.pk