This article first appeared in Law360 and has been reprinted here with permission.
World Trade Organization Director-General Roberto Azevedo has offered little hope for overcoming the obstacle presented by India in blocking the protocol necessary to finalize the WTO trade facilitation agreement reached in Bali Dec. 7, 2013.[1] Meanwhile, there is a great deal of discussion about what this means for the WTO, but what does it mean for trade facilitation? I would suggest that while this development means a lot to the WTO it means little to trade facilitation. The train has left the station as far as trade facilitation goes because countries and business appreciate the merits of its implementation.
The majority of people have heard the old saying: “the early bird gets the worm.” Well, the same holds true for trade facilitation – and there are a few good reasons why.
With the finalization of a Trade Facilitation Agreement (“TFA”) at the conclusion of the 9th Ministerial Conference in Bali, Indonesia, on December 7, 2013 (see:
On January 21, 2014, the White House announced the first U.S.-Africa Leaders Summit in Washington, DC to take place on August 5 and 6, 2014. President Obama invited leaders from across the African continent with the aim of strengthening ties with one of the world’s most dynamic and fastest-growing regions. Six of the world’s ten fastest growing economies of the past decade are in sub-Saharan Africa. According to the White House Press Release, “[t]he Summit will build on the progress made since the President’s trip to Africa last summer, advance the Administration’s focus on trade and investment in Africa, and highlight America’s commitment to Africa’s security, its democratic development, and its people.”