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Stakeholders review WTO Trade Facilitation Agreement

  The Ministry of Industry, Trade and Tourism yesterday highlighted the National needs and priorities assessment for implementation of the World Trade Organisation Trade Facilitation Agreement. Comments were made by
27 Apr 2016 11:38
Stakeholders review  WTO Trade Facilitation Agreement
fijisun.com.fj

 

The Ministry of Industry, Trade and Tourism yesterday highlighted the National needs and priorities assessment for implementation of the World Trade Organisation Trade Facilitation Agreement.

Comments were made by Permanent Secretary for Industry, Trade and Tourism, Shaheen Ali during the stakeholders meeting at Grand Pacific Hotel in Suva.

He said the meeting offered one last chance for stakeholders to submit their input and finalise Fiji’s Trade Facilitation needs assessment into  categories.

“The final report was submitted in the fourth quarter of 2015,” Mr Ali said. “Therefore Fiji is expected to ratify the WTO Trade Facilitation Agreement and notify its Category A commitment by June.

“We will be reconfirming the three categories in preparation for Cabinet’s consideration and subsequent submission to the Fijian Parliament for ratification.”

 

Features of Trade Facilitation Agreement

He said the purpose of the agreement is to expedite the movement, release and clearance of goods by border agencies.

Mr Ali said implementation will reduce the cost of doing business by increasing efficiency and trade volumes.

He revealed if the customs measures of the agreement are properly implemented internationally, it could create US$1 trillion worth of global economic activity.

Meanwhile, he added 21 million new job opportunities would be created and lower cost in international trade by 10-15 percent.

“This is in line with Governments plans on infrastructure development and reforms to improve our ports, airports, roads and communications,’’ Mr Ali said.

Feedback:  christine.nikola@fijisun.com.fj

 

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