The World Trade Organization (WTO) Trade Facilitation Agreement came into force after Rwanda, Oman, Chad, and Jordan submitted their instruments of acceptance to WTO Director-General Roberto Azevêdo. The submissions bring the total number of ratifications over the 110 required for activation. Members’ trade costs are forecast to lower by 14.3%, with developing countries having the most to gain.
Tags: Bangladesh, India, LDC, Myanmar, Nepal, Sri Lanka, Trade Facilitation Agreement, WTO
Nepal’s Parliament ratified the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) on 13 January 2017, drawing up the instrument of acceptance for the WTO TFA, whose implementation will help expand trade and attract foreign direct investment in Nepal by increasing transparency and effectiveness of the trading process.
Tags: Nepal, Trade Facilitation, Exports, Customs, FDI, LDC, WTO
The Government of Bangladesh is preparing to ratify the World Trade Organization (WTO) Trade Facilitation Agreement (TFA), which will enable efficient and speedy flow of goods across borders and make doing business less costly. Bangladesh aims to ratify the TFA soon, to allow the country to enjoy trade benefits available to least developed countries.
Tags: Bangladesh, Trade Facilitation, LDC
WTO members were advised to notify the WTO about their technical assistance and capacity-building needs, including the timeframe to ensure effective implementation of the WTO Trade Facilitation Agreement (TFA). The WTO Preparatory Committee on Trade Facilitation has received 81 “Category A” notifications and an increasing number of “Category B”and “Category C” notifications.
Tags: WTO, LDC, Trade Facilitation, Sri Lanka
The World Trade Organization (WTO) 10th Ministerial Conference agreed on a series of trade initiatives and decisions to benefit its least developed country (LDC) members, including re-affirmation of public stockholding for food security purposes; preferential rules of origin which calls on preference-granting members to simplify documentary and procedural requirements related to origin; and 15-year extension of preferential treatment for LDCs in the area of services to increase LDC capacity.
Tags: WTO, LDC, Trade, Trade Facilitation
The Republic of Macedonia became the 50th country to submit its ratification of the World Trade Organization's (WTO) Trade Facilitation Agreement (TFA). This submission follows the ratification recently deposited by the EU on behalf of its 28 member states, which gave a huge boost toward efforts to bring the Agreement into force. The WTO reported a sharp rise in ratifications, with the number of acceptance instruments received tripling by June 2015.
Tags: WTO, Trade Facilitation, LDC
The World Trade Organization (WTO) and the United Nations Conference on Trade and Development (UNCTAD) signed a Joint Declaration that reaffirms their commitment to strengthen cooperation on promoting trade as a tool for development, and acknowledges trade as an important driver of development. It also reinforces the commitment of WTO and UNCTAD on bolstering cooperation in key areas of their work, including trade related technical assistance and capacity-building, and trade facilitation.
Tags: WTO, UNCTAD, LDC
The Government of China pledged to contribute $500,000 to World Trade Organization (WTO) Least Developed Countries (LDCs) and Accessions Program or the China Program. This will enable LDCs to better integrate into the global economy by strengthening their participation in WTO activities and helping members accede to the WTO.
Tags: WTO, LDC, Trade Facilitation
Bangladesh has once again been nominated as least developed countries’ (LDC) coordinator for 2015—its first time was in 1996 when former Industries and Commerce Minister Tofail Ahmed attended the WTO Ministerial Conference in Singapore. Bangladesh was nominated due to its vital role and experience in bargaining with the developed world on behalf of the LDCs.
Tags: Bangladesh, WTO, LDC
Economic dynamism in the Asia-Pacific region has been driven primarily by individual economies, yet to ensure sustainable growth in the future, countries must integrate and cooperate to share prosperity, according to the 2014edition of the Economic and Social Survey of Asia and the Pacific.
Tags: Regional Cooperation, Poverty Reduction, UNESCAP, Asia-Pacific, Energy, Connectivity, ICT, LDC, SASEC, Trade, Transport