What is the World Trade Organization Agreement on Trade Facilitation?

The World Trade Organization Agreement on Trade Facilitation (WTO TFA) is an international agreement meant to facilitate smoother and easier trade between countries. The agreement was created in 2014 when the WTO members negotiated a deal to reduce trade costs while still maintaining important standards of safety and security. The TFA outlines procedures, methods, and documentation for moving goods from one country to another. The TFA covers a variety of topics, such as customs procedures, rules of origin, various fees, and trade-related taxes. It also includes provisions to make customs procedures easier, such as the use of specialized customs software and the modernizing of existing procedures. In addition, the WTO TFA promotes security and safety in international trade by ensuring that customs and border protection agencies have the necessary resources to carry out their duties, and it helps ensure that goods meet the relevant standards and regulations. In Pennsylvania, the Department of Revenue adopted policies to ensure compliance with the World Trade Organization Agreement on Trade Facilitation. This includes the formation of the Commonwealth-wide Trade Facilitation Business Partnership to help business owners understand the requirements of the TFA. Pennsylvania also has a Trade Facilitation Officer who manages the compliance of Pennsylvania businesses with the WTO’s trade facilitation measures. The World Trade Organization Agreement on Trade Facilitation is an important agreement for Pennsylvania businesses who wish to engage in international trade. By complying with the agreement, businesses can more easily and efficiently move goods across borders while still meeting important standards of safety and security.

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What is the World Trade Organization Agreement on Trade Facilitation?

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