Lithuania's Permanent Representative to WTO will be chairing the Committee on Trade Facilitation
Lithuania's Permanent Representative to the World Trade Organization (WTO), Dr. Dalia Kadišienė, will be chairing the Committee on Trade Facilitation of this international organization for the upcoming year.
Dr. Dalia Kadišienė was appointed to this position on Thursday in Geneva, during the meeting of this Committee, replacing the previous Chair Swedish Ambassador Mr. Daniel Blockert.
The Trade Facilitation Agreement (TFA) is the first multilateral agreement reached in the WTO since 1995. Negotiations regarding this Agreement started in 2004 and were completed in December 2013 at the WTO Ministerial Conference, during the Lithuania’s Presidency of the EU Council.
TFA obliges WTO members to reduce the bureaucratic burden for their business related to the movement of goods across the borders. Provisions of the Agreement requires countries to simplify, modernize and harmonize export and import procedures, aiming reduction of the costs of international trade and combating corruption. It is expected that the full implementation of the Agreement will allow reducing the costs of international trade by almost 15%, the time required for importation - by 47%, and the time needed for exportation – even by 91%. In the longer term, the implementation of the TFA can increase world export growth by approximately 2.7% annually and add about 0.5% to the world GDP growth.
This year Committee’s activities will focus on monitoring the implementation of the provisions of the agreement, sharing of good practices and experiences, searching relevant solutions and aid programs for countries lacking capacities to implement certain provisions of the agreement.