Chile and Swaziland ratified the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) on November 21. The agreement, which aims to expedite the movement, release, and clearance of goods traded internationally, has so far been ratified by 98 members. Their submission of the “instruments of acceptance” to the WTO means that nearly 90% of the ratifications needed to bring the TFA into force have been submitted. The TFA will be enforceable once two-thirds of the WTO membership has formally accepted the agreement.
For more information on the ratification and the TFA agreement, please click here.