Expectations from new WTO pact

Last week, the Trade Facilitation Agreement (TFA) of the WTO came into effect

Last week, the Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO) came into effect, when four of its members sent their instruments of acceptance to the body’s director-general, bringing the total number of ratifications over the required threshold of two-third of its 164 members.
 
This agreement aims to expedite the movement, release and clearance of goods across Customs barriers. It launches a new phase for trade facilitation reform over the world, creating a significant boost for commerce and the multilateral trading system as a whole, says WTO. Developed countries have committed to immediately implement the agreement. Developing