It was announced yesterday that World Trade Organization (WTO) members have secured a deal that paves the way for implementing the Trade Facilitation Agreement, the first global multilateral trade deal to be sealed in the history of the WTO.
Adoption of this landmark agreement is a triumph not only for businesses worldwide but also for the global economy, given its potential to considerably reduce transaction times and costs in both emerging and developed economies. Along with other elements of the Bali package, the deal has a huge potential to boost growth by injecting US$1 trillion into the global economy and to create up to 21 million new jobs.
Your notable actions and efforts during the recent TFA impasse, contributed to getting negotiators back to the table to conclude the first multilateral trade deal in nearly twenty years. Since the first ministerial conference of the WTO in 1996 in Singapore, ICC has played a significant role in putting trade on the WTO agenda and then urging negotiations on a multilateral agreement on trade facilitation. By tapping into our extensive global network, we continue to provide business input to the negotiations agenda and look forward to your continued efforts in this regard.
I would like to express my sincere gratitude for your constant and strong support for the TFA. The remarkable efforts you have put into calling for further action through your communication and advocacy initiatives have truly contributed to getting this landmark deal back on track. I now look forward to working towards full implementation of the agreement and the advancement of the Doha Development Agenda, for which our global network will be an exceptional asset.
I also take this opportunity to recognize the outstanding leadership and perseverance demonstrated by WTO Director-General Roberto Azevedo during the long process of negotiations, and for returning the multilateral trading system to centre stage.
John J. Danilovich
International Chamber of Commerce
33 av. du Pr?sident Wilson
Paris 75116 Cedex