December 16, 2016 – Ottawa, Ontario – Global Affairs Canada
Canada took an important step today in its progressive trade agenda by ratifying the WTO Agreement on Trade Facilitation (TFA). Canada is committed to a collaborative approach as we promote trade and investment.
The Minister of International Trade, the Honourable Chrystia Freeland, welcomed the fact that Canada’s ratification was officially accepted by the WTO today in Geneva, Switzerland.
The TFA will lower trade costs by modernizing and simplifying customs and border procedures. Canadians stand to save up to $16 billion thanks to the reduction in bilateral trade costs following full implementation of the TFA. By enabling trade reforms, the TFA will create an environment that is easier for small and medium-sized businesses, and particularly developing countries, to participate in international trade and global value chains.
‘Canada is delighted to ratify the trade facilitation agreement. When the costs of trade are reduced, more …