Intel applauds progress on WTO Trade Facilitation Agreement:
The agreement announced yesterday between the United States and India represents important progress toward removing the stalemate on implementation of a robust WTO Trade Facilitation Agreement (TFA). Such an agreement would benefit global supply chains via binding WTO commitments in numerous areas, whether eliminating border-related red tape and unnecessary formalities at the border, establishing transparency and consistency in the application of customs rules, or expediting cargo release times. Spanning 159(+) countries, the TFA would elevate trade facilitation as a policy priority on a worldwide basis, creating scale economies that could yield massive trade and economic efficiencies. We applaud the efforts of USTR and WTO members in moving this agreement forward, and urge that it be implemented as swiftly as possible.
This follows the breakthrough bilateral agreement between the United States and China to expand product coverage of the Information Technology Agreement (ITA) earlier this week. This tremendous work helps build a stronger global economy, while encouraging innovation and job growth in America.