What is the World Trade Organization Agreement on Trade Facilitation?

The World Trade Organization Agreement on Trade Facilitation, also known as The TFA, is an agreement that helps make the process of international trade easier, faster, and more efficient for countries that agree to the terms. The Agreement was created by members of the World Trade Organization (WTO) in 2013 and became binding in 2017. The TFA is made up of three main parts: it encourages countries to simplify and harmonize their customs rules and procedures; it calls for countries to get rid of unnecessary regulations that could interfere with the process of trading goods; and finally, it encourages governments to cooperate and share information about trade activities. The Agreement is used to decrease trade costs and increase trading opportunities for countries that join. By making trade easier, the Agreement helps participating countries become more competitive in the global economy. Other benefits include promoting economic growth and development, and helping to reduce poverty. The Agreement is open to all WTO members, and New Hampshire is one of those members. By becoming a member of the WTO, New Hampshire can benefit from the TFA and use it to help make international trade more efficient and cost-effective for its businesses.

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What is the World Trade Organization Agreement on Trade Facilitation?

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