Less bureaucracy in Customs

Less bureaucracy in CustomsThe World Trade Organization achieved its first agreement in 22 years on measures to remove barriers to trade by simplifying Customs procedures.

The agreement that was reached in Bali could mean an increase of 1 trillion dollars in global trade.

In Part II of the draft ministerial declaration of Bali, related to Trade Facilitation, it specifies what Customs procedures need to be adopted by signatory countries.

Commenting on this agreement, the US Chamber of Commerce said: “The WTO has restored its credibility as a prerequisite for a trade negotiations forum. And this is not just a victory on paper, but streamlining the cross border movement of goods by reducing bureaucracy that could boost the world economy’’.

Leave a Reply

Your email address will not be published. Required fields are marked *