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EU donates EUR 600,000 to Trade Facilitation Agreement Facility

The Trade Facilitation Agreement will enter into force once two-thirds of WTO members have ratified it. To date, 77 Members have done so. The Facility became operational in November 2014 when the General Council adopted the Trade Facilitation Agreement Protocol, inserting the new Agreement into the WTO legal framework.

Director-General Roberto Azevêdo said: “The EU's latest donation shows its continuing commitment to help developing and least-developed countries to benefit from trade. This very welcome support to implement the WTO's Trade Facilitation Agreement will help to cut trade costs and boost development.”

The EU's Ambassador to the WTO, Marc Vanheukelen, said: “The EU's continuing support for implementation of the WTO's Trade Facilitation Agreement confirms our strong conviction that this agreement will benefit all trading nations, particularly developing countries. By contributing another EUR 600,000, we hope to see developing countries increase their participation in global value chains and achieve stronger economic growth.”

This is the EU's first contribution to the TFAF, and the third largest since the fund was established. Overall, the EU has donated over EUR 17 million (nearly CHF 20 million) to WTO trust funds over the past 15 years.

 

list of ratifications

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