ERIA President Welcomes the Adoption of Trade Facilitation Agreement
ERIA welcomes the Trade Facilitation Agreement (TFA) entry into force on 22 February 2017. The TFA is a major milestone for the global trading system, as it is the first multilateral agreement concluded in the 21 year history of the World Trade Organization. With two third of 164 members of WTO accepting the TFA, the international trade system has received a much needed momentum and support.
'The TFA's entry into force is a collective and proactive commitment of member countries to facilitate and increase international trade on one hand, and to oppose the growing protectionism in trade on the other.'
'TFA will help international trade to be more inclusive by allowing smaller firms, developing countries and least developed countries' increased participation in international trade and global value chains. ERIA believes that the TFA reaffirms the faith of member countries in open trading systems with lower trade costs.'
ERIA is especially proud to state that it has made significant research contribution to support the Ministers in concluding the Bali Declaration on TFA. ERIA prepared a series of research papers, entitled 'The Road to Bali', which was presented to Indonesia, the chair of Bali Round of TFA negotiations.
ERIA remains committed to the Trade Facilitation agenda, and is currently preparing the Trade Facilitation Index for ASEAN, to be presented in the ASEAN Economic Ministers in Manila, Philippines, in September, 2017.