World Trade Organization Trade Facilitation Agreement
World Trade Organization Trade Facilitation Agreement
World Trade Organization Trade Facilitation Agreement
On December 3-6, 2013 at the 9th Ministerial Conference of the World Trade Organization (WTO) which took place in Bali, Indonesia, WTO member countries signed the Trade Facilitation Agreement.
In this regard, the Ministry of Economic Development and Trade of the Republic of Tajikistan began interstate procedures for ratification of the Agreement and sent the draft of the resolution of Majlisi Namoyandagon and Majlisi Oli of the Republic of Tajikistan "About ratification of Trade Facilitation Agreement" to the relevant ministries and agencies.
The above-mentioned agreement obliges WTO member countries to improve the customs procedures, to increase transparency, and also to enhance the cooperation between government bodies and the private sector on border.
Importance of this agreement is that, it is capable of reducing expenses on commercial transactions which are connected with customs procedures on import and export. Within the last 10-15 years in the majority WTO member countries we can observe the delay of goods on border for some weeks, which involves increase in expenses on official customs clearance. As practice shows, such situation involves weakening of a foreign trade turnover, by increasing the consumer price. Such additional expenses, which are connected to the commercial transactions are mostly observed in developing countries and it harms for them.
Such situation complicates clearance procedures for import and export of goods for small and medium sized enterprises. As a result, they become noncompetitive contractors and lose chances on advancing their activities in the regional and international markets.
In general, implementation of this agreement will improve the sphere of business in the republic, for example, simplification and improvement of management (administrative) procedures in all levels of realization of foreign economic activity and promotes improvement, reduction of procedures and documentation within the process of issuing certificates to subjects of foreign economic activity.