WASHINGTON--(BUSINESS WIRE)--The Coalition of Services Industries (CSI) expressed extreme disappointment at the failure of the WTO General Council to reach agreement on the Protocol of Amendment for the Trade Facilitation Agreement in accordance with the decision of the Trade Ministers at the Ninth WTO Ministerial Conference.
Peter Allgeier, President of CSI, said: “It is particularly frustrating that the efforts and good will of the overwhelming majority of the WTO membership have been stymied by the negotiating tactics of a handful of members. The Trade Facilitation Agreement, and the Trade Facilitation Facility announced last week by Director General Azevedo, offered a solid path for developing countries to plug into the global value chains. It is a shame that this major opportunity for developing countries has been lost.”
The gains from trade facilitation have been estimated to increase world GDP by approximately $385 billion annually, according to the Peterson Institute for International Economics.
CSI urges WTO members to reflect on their responsibilities to each other and to the WTO institution and to return to Geneva in September with a solution that is consistent with the mandate they received in Bali from their ministers.
CSI expresses its appreciation to Ambassadors Froman and Punke and their teams in Washington and Geneva for their unflagging efforts to obtain acceptance of the Protocol of Amendment.