“Today’s announcement of an agreement between the United States and India signals significant progress toward implementing the WTO Trade Facilitation Agreement,” said NFTC President Bill Reinsch. “We commend Ambassadors Froman and Punke for their leadership in securing this step forward, and for the Administration’s commitment to advancing the rules-based global trading system.”
In July, when the TFA implementation reached an impasse, the NFTC called on WTO members to seek a solution that would enable the agreement to proceed, citing the importance of modernizing trade rules through agreements such as the TFA.
“Today’s announcement is good news, but we’ll wait to celebrate until the political commitment is finalized and economies move to implement the provisions of the agreement,” said NFTC Vice President for Global Trade Issues Jake Colvin. “As the dust settles on this agreement, it’ll be important to take a fresh look at new pathways that will enhance the credibility of the negotiating function at the WTO and avoid a situation where one or a small handful of countries is able to undermine the aspirations of the WTO’s membership at large.”
About the NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York. Follow us on: