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World trade   The 104th World Trade Organisation member

Ghana ratifies trade facilitation agreement

GhanaGhana has become the 104th World Trade Organisation (WTO) member to ratify the Trade Facilitation Agreement (TFA).

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READ MORE Nepal ratifies Trade Facilitation Agreement

It is reducing the number of member countries needed to ratify the Agreement to bring the TFA into force to six.

Ghana submitted its instrument of acceptance to the WTO today January 4, 2017, the world body announced.

According to the WTO, the TFA will enter into force once two-thirds of the WTO membership has formally accepted the Agreement.

The TFA, which was concluded at the WTO’s 2013 Bali Ministerial Conference, contains provisions for expediting the movement, release and clearance of goods, including goods in transit.

It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.

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