Trade facilitation is the general concept of a package of measures to reduce border bureaucracy. Heavy customs regulations pose real challenges for businesses of all sizes, internationally, particularly for small and medium-sized enterprises (SMEs). Members of the World Trade Organization have endorsed a pioneering global agreement known as the Trade Facilitation Agreement (TFA). The TFA came into force on February 22, 2017. The aim of the AMF is to speed up customs procedures; Make trade easier, faster and cheaper Ensure clarity, efficiency and transparency Reducing bureaucracy and corruption The Committee on Agriculture, Research and Innovation (- – ” point The WTO, WTO members and other intergovernmental organizations, including the World Bank, the World Customs Organization and the United Nations Conference on Trade and Development (UNCTAD) provide technical assistance to trade facilitation. In July 2014, the WTO announced the creation of a trade facilitation mechanism that helps developing countries and LDCs implement the Trade Facilitation Agreement. The facility came into force on 27 November 2014 with the adoption of the Trade Facilitation Protocol. European Commission officials stressed that EU member states should deepen trade facilitation measures so that the European Union becomes “the champion of trade facilitation”. They also reiterated that the EU will have to help countries in difficulty implement the provisions of the agreement (including the provision of technical assistance and the implementation of capacity-building programmes). Bureaucratic delays and “bureaucracy” weigh on traders for cross-border trade. Trade facilitation – the simplification, modernization and harmonization of export and import processes – has therefore become an important issue for the global trading system. The TFA would have more impact on international trade than the removal of all remaining tariffs in the world.
Recent WTO studies indicate that improving border management around the world could increase global GDP by $1 trillion a year.