Agility welcomes WTO approval of TFA

CEO Tarek Sultan said the WTO package could cut the cost of trade by up to 15 per cent, boost the global flow of goods, accelerate economic growth and add up to 20 million new jobs


3PL Agility Tarek Sultan TFA Trade Facilitation Agreement WTO


Agility has issued the following statement signed by its CEO Tarek Sultan in response to the recent approval by the World Trade Organization (WTO) of the trade facilitation agreement (TFA) measures that would add US$1 trillion to the global economy through new rules on customs and cross-border trade. “Today’s WTO agreement offers real hope for small businesses, farmers, job seekers and others in rich and poor countries alike. Though there’s no magic in the WTO package, the measures included would eliminate paperwork, make rules more transparent, fast-track some low-risk shipments, and create ‘single windows’ for importers and exporters to pay fees and submit documents. The magic will be in the results. The WTO package could cut the cost of trade by up to 15 per cent, boost the global flow of goods, accelerate economic growth and add up to 20 million new jobs, most of them in developing nations. By salvaging the agreement, the WTO gets much-needed credibility and restores viability to the multi-lateral trade negotiation process. However, the WTO’s 159 member countries should not rest on their laurels. The global economy can’t wait another 20 years.”