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Focus on Regulation

Landmark WTO Trade Facilitation agreement promises to streamline customs clearance procedures around the world

globeOn Saturday, 7 December 2013, the Ninth Ministerial Conference of the World Trade Organization (WTO) announced the successful conclusion of an agreement on Trade Facilitation (Agreement) — an agreement that is intended to streamline customs clearance procedures around the world by imposing new multilateral disciplines on customs procedures in all member countries. The Agreement imposes basic globally applicable principles for transparency, due process, and reasonableness in the development and implementation of customs clearance requirements.

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