During a regularly scheduled meeting in Dublin, Ireland, in December, global customs chiefs discussed how to implement the World Trade Organization’s breakthrough agreement on multilateral trade covering trade facilitation, achieved days earlier in Bali, Indonesia.
If enough countries accede to the Trade Facilitation Agreement it could provide an annual global benefit of between $400 million to $1 trillion by shaving 10 percent to 15 percent from the regulatory cost of importing and exporting, and stimulate more trade that allows countries to collect more revenue at the border.
WTO’s trade facilitation
