On Nov. 27, the World Trade Organization (WTO) approved full implementation of the Trade Facilitation Agreement (TFA) that was originally crafted at last year’s WTO ministerial meeting in Bali, Indonesia. (USMEF provided highlights of the agreement in the Dec. 13, 2013, edition of the Export Newsline.)
The agreement met resistance earlier this year from India and some other developing countries that wanted greater freedom to subsidize and stockpile food supplies, so its approval represents an important breakthrough for the WTO. More details are available from the WTO website. U.S. Trade Representative Michael Froman also issued this press statement.