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WTO ratifies its first multilateral trade deal

Published Thu, Feb 23, 2017 · 09:50 PM
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Geneva

THE first multilateral deal agreed at the World Trade Organization (WTO) came into force on Wednesday, a step billed as a milestone for the body facing unprecedented threats from a hostile US administration.

The Trade Facilitation Agreement (TFA) has now been ratified by 112 of the WTO's 164 members, crossing the two-thirds threshold needed for activation, the Geneva-based organisation confirmed. Under the deal, nations agreed to simplify and standardise customs procedures at borders to make it easier for goods to flow around the world.

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