WTO: China ratifies Trade Facilitation Agreement

By

Matthieu Guinebault

Published
Sep 14, 2015

The World Trade Organisation has formalised China's signing of the Trade Facilitation Agreement, launched in 2013, which contains provisions for expediting the movement, release and clearance of goods, including goods in transit.

"The Trade Facilitation Agreement 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," explains the WTO.

In December 2013, WTO members concluded negotiations on a Trade Facilitation Agreement at the Bali Ministerial Conference, as part of a wider “Bali Package”. Since then, the major export countries have been joining the agreement one by one, with China being the latest.

In addition to China, the following WTO members have signed the agreement: Hong Kong China, Singapore, the United States, Mauritius, Malaysia, Japan, Australia, Botswana, Trinidad and Tobago, the Republic of Korea, Nicaragua, Niger, Belize, Switzerland and Chinese Taipei.

The TFA will enter into force once two-thirds of the WTO membership has formally accepted the Agreement.