Supporting the Policy Environment for Economic Development
SPEED+

WTO Trade Facilitation Agreement (TFA)

According to the WTO, full implementation of the TFA can reduce trade costs for developing countries like Mozambique by up to 23%, and has the potential to increase global merchandise exports of developing countries by up to 730 billion dollars per year. In a major milestone for Mozambique’s economic transformation, the global Trade Facilitation Agreement of the World Trade Organization was ratified by the Council of Ministers on October 31, 2016 and officially deposited at the WTO in January 2017. The ratification, supported by SPEED+, included Mozambique in the initial 110 countries required for the TFA’s entry into force, which was achieved in February 2017. 

SPEED+ is providing support the Ministry of Industry and Trade and the National Trade Facilitation Committee to achieve reforms in trade fees and costs, improved access to information, and import/export procedures.