By Mohammad Al-Moula
KUWAIT, May 6 (KUNA) -- The Kuwaiti Ministry of Commerce and Industry stressed on the importance of submitting Kuwait' approval of the Protocol to amend the Marrakesh Agreement Establishing the World Trade Organization (WTO) to insert the Agreement on Trade Facilitation, being a vital step in elevating the commercial status of Kuwait worldwide.
The Ministry's Assistant Undersecretary for International Organizations and Foreign Trade Sheikh Nemer Al-Sabah said in remarks to KUNA on Sunday that the mentioned protocol is one of the most important and positively effective ones in facilitating the means of international trade.
Kuwait's Permanent Representative to the UN and Other International Organizations in Geneva Ambassador Jamal Al-Ghunaim submitted on April 26 Kuwait's approval of Marrakesh protocol during ceremonies that took place at WTO headquarters in Geneva, Switzerland, with the attendance of WTO Director General Roberto Azevedo.
As the approval is submitted by Kuwait then the agreement will be effective for the country, as trade facilitation is an important phase of the agreement by working in the facilitation of Kuwaiti goods traffic through borders, boosting customs cooperation, and decreasing the demands of governmental bodies related to importing and exporting operations, he said.
This agreement will reduce the import fees, as well as serve the consumers and Kuwait exporters, and supports Kuwait national economic and commercial interests, he added. (end) mam.tb.lb