Trade facilitation in the Asia-Pacific region: A bright outlook

The Trade Facilitation Agreement (TFA), accomplished at the ninth WTO Ministerial Conference in December 2013, is the first major global trade agreement to have been concluded since the establishment of WTO in 1995. Although implementation of the TFA remains uncertain, the agreement provides evidence of a global consensus on the importance of trade facilitation for sustainable economic development as well as a narrow but concrete framework through which countries may simplify and enhance the transparency of their trade procedures.

Related Subject(s): International Trade and Finance