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Kuwait joins WTO's Trade Facilitation Agreement - diplomat

Kuwait's Permanent Representative to the United Nations in Geneva Ambassador Jamal Al-Ghunaim handed to the World Trade Organization's (WTO) Director-General Roberto Azevedo his country's contract to join the Trade Facilitation Agreement (TFA)
Kuwait's Permanent Representative to the United Nations in Geneva Ambassador Jamal Al-Ghunaim handed to the World Trade Organization's (WTO) Director-General Roberto Azevedo his country's contract to join the Trade Facilitation Agreement (TFA)
GENEVA, April 26 (KUNA) -- Kuwait's Permanent Representative to the United Nations in Geneva Ambassador Jamal Al-Ghunaim handed Thursday to the World Trade Organization's (WTO) Director-General Roberto Azevedo his country's contract to join the Trade Facilitation Agreement (TFA). Al-Ghunaim told KUNA that Kuwait's goal was to strengthen its position on the global trade level, adding that the TFA was part of the "Marrakech Protocol", one of the most vital agreements on facilitating the mechanism of world trade.
The agreement will facilitate the movement of goods across borders and joint customs cooperation, he said, adding that it will ease national and international trade with greater freedoms, simplifying and reducing requirements by government bodies related to the movement of imports and exports.
He added, "This agreement will also reduce the cost of imports, which is important because it benefits the consumer." For his part, WTO Director-General Azevedo praised Kuwait's important step in this matter.
Kuwait's must use numerous opportunities offered by this agreement to facilitate trade movement with other global partners, said the official.
According to WTO, the organization's members concluded negotiations at the 2013 Bali Ministerial Conference on the landmark Trade Facilitation Agreement (TFA), which entered into force on February 22, 2017 following its ratification by two-thirds of the WTO membership.
The TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area. (end) ta.hs