EP to ratify world trade facilitation deal
MEPs will debate and vote Wednesday on a recommendation for the EU to join the World Trade organization’s Trade Facilitation Agreement – the first WTO deal agreed by all its members since it was established in 1995. The deal aims to ease customs procedures, reduce border delays and cut costs for exporters, in particular small firms and producers in developing countries.
The deal, which includes a technical assistance mechanism to help developing and least-developed countries to handle the customs procedures, could cut export costs for developed and developing countries by as much as 10-15%. The EU has pledged more than €400 million in assistance to help fund for the mechanism for five years.
The agreement would take effect upon ratification by two thirds of all WTO members.
Procedure: Consent, non-legislative resolution
Vote: Wednesday, 9 September
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