Trade Facilitation Agreement Must Be Implemented By Agreed Deadline
Jul 29, 2014
The International Chamber of Commerce (ICC) Ireland has today (29/07/14) called on World Trade Organisation trade ministers to ensure rapid implementation and ratification of the WTO Trade Facilitation Agreement (TFA). The call comes following reports that a small number of WTO members have proposed postponing implementation past the July 31st deadline.
In a letter sent to over 100 trade ministers worldwide, ICC Chairman Harold McGraw and Secretary General John Danilovich forewarn trade ministers that failure to meet the deadline would stall multilateral trade liberalization momentum and prevent developing and developed countries alike from reaping the benefits of the deal, which would lead to significant increases in growth worldwide.
Speaking this morning, Ian Talbot, ICC Ireland Secretary General said, “If fully implemented by all WTO members, the TFA and associated reforms could deliver over time an additional US$1 trillion to the world economy, generating as many as 21 million jobs in the process. Progress now should not be held hostage to further delays that would jeopardize the wider economic benefits for us all—businesses, governments and consumers.”
ICC Chairman Harold McGraw added: “Business and governments must cooperate and the voice of business needs to be louder. On behalf of millions of businesses and associations worldwide, ICC continues to work with governments to identify and prioritize areas where results can be achieved by WTO members.”
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Notes to Editor
About the International Chamber of Commerce (ICC) in Ireland
Chambers Ireland is the official representative of the International Chamber of Commerce in Ireland. ICC is the largest, most representative business organisation in the world. Its hundreds of thousands of member companies in over 120 countries have interests spanning every sector of private enterprise.
A world network of national committees keeps the ICC International Secretariat in Paris informed about national and regional business priorities. More than 2,000 experts drawn from ICC’s member companies feed their knowledge and experience into crafting the ICC stance on specific business issues.
The United Nations, the World Trade Organisation, the G20 and many other intergovernmental bodies, both international and regional, are kept in touch with the views of international business through ICC.