ISLAMABAD: Pakistan considers ratifying WTO’s Trade Facilitation Agreement (TFA) which contains provisions for expediting the movement, release and clearance of goods, including goods in transit. After ratification, Pakistan will become the 13th World Trade Organisation member — first from South Asia — to accede to the treaty. In December 2013, WTO’s 161 members concluded negotiations on the TFA at the Bali Ministerial Conference, as part of a wider “Bali Package”. The agreement will enter into force once accepted by two-thirds, or 108, members of the WTO. The new TFA will also set out measures for effective cooperation between customs and other appropriate authorities on...
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