Home / Knowledge / News / Textiles / Bangladesh ratifies WTO's Trade Facilitation Agreement
Bangladesh ratifies WTO's Trade Facilitation Agreement
Oct '16
Bangladesh's WTO ambassador Shameem Ahsan (right) submitting his country's TFA instrument of acceptance to WTO director-general Roberto Azevêdo. Courtesy: WTO
Bangladesh has ratified the Trade Facilitation Agreement (TFA), becoming the 94th member of the World Trade Organization (WTO) and 12th least developed country (LDC) to do so. Concluded at the WTO's 2013 Bali Ministerial Conference, the TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit.
The TFA 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.
It will enter into force once two-thirds of the WTO membership has formally accepted the Agreement. Bangladesh's acceptance means over 85 per cent of the ratifications needed for entry into force have now been received.
The TFA broke new ground for developing countries and LDCs in the way it will be implemented. For the first time in WTO history, the requirement to implement the Agreement was directly linked to the capacity of the country to do so. In addition, the Agreement states that assistance and support should be provided to help them achieve that capacity.
A Trade Facilitation Agreement Facility (TFAF) was also created at the request of developing and least-developed country members to help ensure that they receive the assistance needed to reap the full benefits of the TFA and to support the ultimate goal of full implementation of the new agreement by all members.
Implementation of TFA has the potential to increase global merchandise exports by up to $1 trillion per annum, according to the WTO's flagship World Trade Report released in October 2015. Significantly, the Report also found that developing countries will benefit significantly from the TFA, capturing more than half of the available gains. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search