In what year did the WTO Trade Facilitation Agreement enter into force? The answer is 2017.
The WTO Trade Facilitation Agreement entered into force on 22 February 2017. It reached that milestone after two-thirds of WTO members completed the required domestic ratification or acceptance process, making it the first multilateral agreement concluded by the WTO since its creation in 1995.
The agreement grew out of negotiations completed at the WTO’s 2013 Ministerial Conference in Bali, Indonesia. Its purpose is to simplify, modernize, and harmonize border procedures so goods can be released and cleared more quickly, with less paperwork, delay, and uncertainty for traders.
The TFA covers areas such as publication of customs information, advance rulings, electronic payment, risk management, expedited shipments, and cooperation between customs authorities. A common mix-up is confusing 2017, when the agreement entered into force, with 2013, when negotiations concluded at Bali, or 2014, when the amendment protocol was adopted.