Sri Lanka Prepares to Ratify the WTO TFA

7 January 2016

Sri Lanka's Cabinet of Ministers has given its approval to ratify the World Trade Organization Trade Facilitation Agreement (WTO TFA), following a proposal made by Sri Lanka's Minister of Industries and Commerce, Mr. Rishad Bathiudeen.

The TFA will maintain the country's competitiveness in global and naval trade. Concluded at the WTO’s 2013 Bali Ministerial Conference, it 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.

To date, 66 members have ratified the TFA. Seychelles, Lesotho, and Georgia are the latest countries to send in their instruments of acceptance. The Agreement will come into force once 2/3s of the WTO Members ratify.


Related Links:

Research on the impact of cross-border energy trade in Bhutan noted that the country’s electricity exports in 2020...

Read More


The Governments of Bangladesh and India are preparing to conduct comprehensive trial runs for the transshipment of cargo...

Read More


The potential of the Siliguri corridor and its surroundings to be developed as a logistics hub for India’s...

Read More


Bhutan’s Minister for Economic Affairs Loknath Sharma was in New Delhi, India, on 18–21 July 2022. He met...

Read More


The three industrial corridors of Andhra Pradesh, the Chennai - Bengaluru Industrial Corridor (CBIC), Visakhapatnam - Chennai Industrial...

Read More


The Governments of Bhutan and Nepal are expediting the process to sign the bilateral trade agreement. At the...

Read More


Nepal now sells a total of 364 megawatts (MW) of electricity to India through the...

Read More