The World Trade Organization completed the negotiations on the Trade Facilitation Agreement. This is the first multilateral agreement negotiated within the WTO. It will offer Moldova new opportunities of entering the international markets and will contribute to developing a healthy and transparent business environment, it is said in a communiqué of the Ministry of Economy, quoted by IPN.
Under the agreement, the transaction costs will be reduced, while the crossborder goods flow will be optimized. The business sector will be better protected by measures aimed at ensuring transparency and efficiency and at reducing bureaucracy and corruption.
Among the actions that will be taken by the member states following the approval of the agreement are to exclude the import requirement to obligatorily present the export statements submitted to the customs authority of the exporting country, and the services of customs brokers.
A Trade Facilitation Committee was set up for implementing the agreement. Every member state will create by a national trade facilitation committee or will design an efficient national agreement coordination and implementation mechanism.
A large part of the economic benefits of this agreement are intended for the developing countries and the least developed countries. They will benefit from assistance for developing and modernizing the infrastructure, training customs functionaries and taking other measures for implementing the accord.
