Jamaica ratifies the Trade Facilitation Agreement (TFA)
The Director-General is currently on an official visit to the Caribbean. DG Azevêdo was in Jamaica on 18-19 January, where he met with senior government representatives and gave a speech at the University of the West Indies. DG Azevêdo continues the visit on 20 January in Barbados.
Jamaica is the 67th WTO Member to ratify the TFA. Its instrument of acceptance was received by the WTO on 19 January. The Agreement will enter into force once two-thirds of the WTO membership has formally accepted the Agreement.
Implementation of the WTO Trade Facilitation Agreement (TFA) has the potential to increase global merchandise exports by up to $1 trillion per annum, according to the WTO’s flagship World Trade Report released on 26 October. Significantly, the Report also found that developing countries will benefit significantly from the TFA, capturing more than half of the available gains. The World Trade Report 2015 is available here.