New Zealand ratifies World Trade Organisation Trade Facilitation AgreementTrade
Trade Minister Tim Groser today announced that New Zealand has formally accepted the World Trade Organization (WTO) Trade Facilitation Agreement (TFA).
“The TFA is designed to facilitate trade through the simplification and streamlining of customs and border processes,” said Mr Groser.
The implementation of the TFA will provide concrete benefits to New Zealand businesses over time, minimising costs associated with getting products across borders and into the marketplace. In particular, New Zealand’s agricultural exporters will benefit from a provision to provide for the release of perishable goods within the shortest possible time.
“New Zealand’s acceptance of the TFA reflects New Zealand’s commitment to the WTO and the multilateral trading system. New Zealand is working actively with other WTO members in the lead up to 10th WTO Ministerial Conference to be held in Kenya in December this year.
“A credible and effective WTO is of long term importance for New Zealand as a small country dependent on global trade,” said Mr Groser.
New Zealand Permanent Representative to the WTO, Vangelis Vitalis formally delivered New Zealand’s instrument of acceptance of the WTO Trade Facilitation Agreement to WTO Director General Roberto Azevêdo on Tuesday night New Zealand time. The TFA will enter into force once two thirds of WTO Members (107 of the current 161 Members) have accepted it.