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ABU DHABI / WAM
The United Arab Emirates concluded ratifying the Trade Facilitation Agreement and notified the World Trade Organisation (WTO) of acceptance of the agreement,
becoming the first Arab country to do so.
Sultan bin Saeed Al-Mansouri, Minister of Economy, said that the Trade Facilitation Agreement is one of the most important agreements within the WTO multilateral trading system. It was the result of the Bali Ministerial Conference of 2013 and was the first agreement to be added to the multilateral trading system after 18 years of establishing WTO.
It is seen as a huge step in breaking the negation stalemate in the development negotiations round, which have been continuing since 2001, and a driver for the multilateral system going forward.
Al-Mansouri added that the agreement is in line with the UAE policy of facilitating cross-border trading through simplification of procedures at borders and administrative requirements, providing information and electronic
procedures.