Although the Trade Facilitation Agreement (TFA) was initially agreed in December 2013, progress has been slow in implementing the deal which ICC estimates could boost global GDP by some US$1 trillion. To date, only three countries - Hong Kong, Singapore and the United States - have formally ratified the TFA.

Speaking at the Customs and Trade Facilitation Symposium ‘Finding Solutions to Cross-Border Challenges’ in Miami, ICC Chairman Terry McGraw, said: “Now we have the agreement in place, we have got to get countries to ratify it. We’re talking about 21 million jobs [that could be created]!”

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