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Finland donates EUR 160,000 for Trade Facilitation Agreement Facility
Finland is contributing EUR 160,000 (nearly CHF 176,000) to the WTO’s Trade Facilitation Agreement Facility (TFAF) to help developing countries and least-developed countries implement the Trade Facilitation Agreement, the WTO’s first multilateral trade deal in 20 years.
Director-General Roberto Azevêdo said: “This latest donation from Finland will help to ensure that the WTO's poorest members benefit fully from the Trade Facilitation Agreement. By cutting the time and cost involved in moving goods across borders, this Agreement will boost trade in developing and least-developed countries. I therefore warmly welcome Finland's continued generosity.”
Finland’s Ambassador to the WTO, Ms Päivi Kairamo, said: “The WTO Trade Facilitation Agreement agreed in Bali in 2013 will help WTO members make their customs procedures more efficient, reduce trade costs and enhance their participation in global value chains. Through this donation to the Trade Facilitation Agreement Facility, Finland is continuing its support for the multilateral trading system by helping developing countries implement the new Agreement.”
This is Finland's first contribution to the TFAF, and the fourth largest since the fund was established. Overall, Finland has donated nearly EUR 12 million (over CHF 13 million) to WTO trust funds in more than 15 years.