Morocco will take part in the first African Forum for International Trade Facilitation Committees in Addis Ababa November 27-29.
Rabat – The event is focusing on how to improve interregional and international trade between African countries through the World Trade Organization’s Trade Facilitation Agreement by reducing cost, time, and complexity.
Trade facilitation measures, if correctly implemented, will not only boost trade but also improve revenue collection, and make trade easier, faster, and cheaper. UNCTAD believes that full implementation of the Trade Facilitation Agreement could reduce trade costs by up to 15 percent.
“A central cog of the Trade Facilitation Agreement is the obligation of each country to set up a National Trade Facilitation Committee (NTFC) with public and private sector stakeholders to facilitate both domestic coordination and implementation of the provisions of this agreement,” the UN Conference on Trade and Development (UNCTAD) wrote.
More than 300 participants from the public and private sector, business community, donors, and regional and international organizations are attending the forum.
UNCTAD organized the event along with the World Bank, the World Trade Organization, the World Customs Organization, the International Trade Center, and the UN economic commissions for Africa and Europe.