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US submits letter of acceptance on trade facilitation pact

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Press Trust of India Davos
Last Updated : Jan 24 2015 | 12:00 AM IST
The United States today submitted its letter of acceptance for the trade facilitation agreement to the World Trade Organisation.
Trade Facilitation Agreement (TFA), the first multilateral trade pact to be concluded since the inception of WTO two decades ago, would help boost global economic activity.
The US is the third country after Singapore and Hong Kong to deliver the letter of acceptance to the WTO for the global trade deal.
US Trade Representative Michael Froman submitted the letter to WTO Director General Roberto Azevedo here.
This event marks the final step of a long journey and is expected to create momentum for other countries to follow suit soon.
Further, the agreement promises to improve global trade efficiency and is projected to generate hundreds of billions of dollars of economic activity.

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First Published: Jan 24 2015 | 12:00 AM IST

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