New WTO agreement to upgrade world trade

In its newly released annual report, the World Trade Organization focuses the world’s attention on the Trade Facilitation Agreement it plans to roll out.

The organization says as soon as the agreement is fully set in place, global merchandise exports could be increased by up to one trillion U.S. dollars every year.

The report estimates that in the next 15 years, implementation of the agreement would add around 2.7 percent to world export growth every year, and more than half a percent to world GDP growth.

Leave a Comment