Turkey ratifies Trade Facilitation Agreement (TFA)
Turkey has ratified the Trade Facilitation Agreement (TFA), becoming the 71st WTO Member to do so.
The Trade Facilitation Agreement will enter into force once two-thirds of Members have domestically ratified a Protocol of Amendment and notified the WTO of their acceptance of this Protocol. More information on how to present the instrument of ratification
Turkey has already taken a number of steps to facilitate trade among its regional neighbours. In its recent Trade Policy Review of Turkey, the WTO noted that Turkey has launched a “one stop shop” pilot project at a border gate with Bulgaria which aims to reduce customs processing delays through coordinated and synchronized implementation of customs service procedures. A similar project will be launched at the Turkish-Georgian border before being extended to other land border gates.
The WTO review also notes that Turkey has launched initiatives with other members of the Black Sea Economic Cooperation (BSEC) on trade facilitation, single window system notifications and information exchange, and harmonization of customs procedures.
In July 2014 Turkey submitted its Category A notification to the WTO indicating that it intends to implement all but one of the TFA provisions upon entry into force of the Agreement.
Implementation of the WTO Trade Facilitation Agreement has the potential to increase global merchandise exports by up to $1 trillion per annum, according to the WTO’s flagship World Trade Report 2015. The Report also found that developing countries will benefit significantly from the TFA, capturing more than half of the available gains.
A full list of ratifications presented to date is available here