In an exclusive interview with viEUws, Arancha González, Executive Director of the International Trade Centre (ITC), talks to Lénaïc Vaudin d’Imécourt – EU Trade Insights Editor – about the Trade Facilitation Agreement.
In December 2013, after more than nine years of negotiations, the World Trade Organisation (WTO) reached an important consensus on the Trade Facilitation Agreement. The Executive Director of the ITC states that this agreement addresses one of the biggest trade obstacles of today: the high costs of moving goods & services across borders. According to González, once the agreement is implemented, trading costs will be significantly reduced. Very good news in particular for Small and Medium-size Enterprises (SMEs), because “the higher trading costs are, the less likely [SMEs] are to internationalise their trade”. González explains that the implementation of the agreement will be complemented by providing financial assistance and technical support to the poor and developing countries.