ISLAMABAD: The World Trade Organization (WTO) has said that the implementation of the Trade Facilitation Agreement (TFA) is expected to increase global exports by 2.7 percent on an annual basis and by 0.5 percent in total global production.
In a statement, the World Organization said that the purpose of this agreement is to facilitate global trade, reduce trade costs for developing countries, especially less developed countries.
Full implementation of the agreement is expected to reduce the cost of trade for developing and least developed countries by an average of 14.3 percent, and for African and least developed countries, this reduction may be even greater.
