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Tuesday, July 02 2019

Fiji participates at the Peer to Peer Learning Event on Trade Facilitation

Senior Trade Officials from the Ministry of Industry, Trade and Tourism, together with Officials from the Fiji Revenue and Customs Services and Biosecurity Authority of Fiji attended the peer to peer learning event in relation to the World Trade Organisation’s (WTO) Trade Facilitation Agreement (TFA) at the WTO in Geneva, Switzerland on 2 July 2019.

The event provided an opportunity to representatives from developing countries to discuss challenges and share their experience with the implementation of the TFA measures.

Estimates show that the full implementation of the TFA could reduce trade costs by an average of 14.3% and boost global trade by up to $1 trillion per year, with the biggest gains in the poorest countries. Tackling barriers to trade will result in increased bilateral trade, greater export diversification, enhanced foreign investment, and improved national competitiveness.

Fiji ratified the TFA on 1 May 2017 and is undertaking various reforms to implement the Agreement for the simplification, modernisation and harmonisation of export and import processes.

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