November 27, 2014 - The Honourable Ed Fast, Minister of International Trade, today issued the following statement:
“Today, WTO members adopted the long-awaited protocol paving the way for the implementation of the Agreement on Trade Facilitation [TFA].
“I welcome this important milestone, and urge all WTO members to maintain the momentum and move forward quickly with their internal processes to ensure that the TFA is brought into force in an expeditious manner. This will ensure that Canadian businesses, especially our crucial small and medium-sized businesses, can benefit as soon as possible from the reduction of delays and red tape, resulting in economic growth and job creation.
“Canada will continue to provide leadership on trade liberalization and to implement the ambitious pro-export plan under our Global Markets Action Plan, to the benefit of hard-working Canadians in every region of our country.”
According to the Organisation for Economic Co-operation and Development, full implementation of the TFA would reduce trade costs by up to 15 percent. Studies suggest that implementation of the TFA could boost world exports by over $1 trillion, the world economy could grow by $960 billion and 21 million jobs could be created.
For more information, please visit WTO Work Is “Back on Track,” Says Azevêdo
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Shannon Gutoskie
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade
613-992-7332
Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
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