After ratification by Chad, Jordan, Oman, and Rwanda in late February, the World Trade Organization (WTO) has officially ratified the Trade Facilitation Agreement (TFA) following confirmation by over two-thirds of WTO members. The agreement includes measures to quicken the movement of goods during all stages of trade and calls for improved collaboration between customs and international authorities. It is estimated that the TFA will shorten average import time by almost half, and export time will see an even more significant improvement.

More information on the agreement is available here and here.