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Niger Is First LDC To Ratify Trade Facilitation Agreement

by Lorys Charalambous, Tax-News.com, Cyprus

10 August 2015

Niger has become the twelfth WTO member and the first least developed country (LDC) to ratify the World Trade Organization's Trade Facilitation Agreement (TFA).

Niger's ambassador, Ado Elhadji Abou, presented the instrument of acceptance of the TFA to the WTO's Director-General, Roberto Azevêdo, on August 6, 2015.

The TFA will create binding commitments across all WTO members to expedite the movement, release, and clearance of goods and improve cooperation among WTO members in customs matters, forming part of international efforts under the Doha Round to cut tax barriers to trade on a global basis. In addition, the agreement states that assistance and support should be provided to help LDCs implement the TFA.

The TFA will enter into force once two-thirds of the WTO membership has formally accepted the agreement. In addition to Niger, the following members have ratified the agreement: Nicaragua, Trinidad and Tobago, the Republic of Korea, Hong Kong, Singapore, the United States, Mauritius, Malaysia, Japan, Australia and Botswana.

TAGS: tax | Mauritius | Nicaragua | Niger | export duty | tariffs | World Trade Organisation (WTO) | Australia | China | Singapore | Trinidad and Tobago | Botswana | Hong Kong | Malaysia | United States | import duty | trade | Japan

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