WTO Trade Facilitation Agreement Hits 70 Signatories

On March 1, Paraguay became the 70th World Trade Organization (WTO) member country to ratify the WTO Trade Facilitation Agreement (TFA). The agreement, once implemented, will reduce trade barriers and eliminate border transaction costs for U.S. footwear and apparel companies around the world. The TFA will go into effect when ratified by two-thirds (108) of the WTO’s 161 member countries, meaning that the TFA is two-thirds of the way there.