The Czech Republic continues to support better integration of developing countries into international trade
26.11.2021 / 20:14 | Aktualizováno: 26.11.2021 / 20:17
The Czech Republic aims to better integrate developing and least developed countries into international trade, while at the same time enhancing the resilience of cross-border supply chains. The latest contribution of CZK 550 thousand (approx. USD 24 thousand) to the WTO Trade Facilitation Agreement Facility (TFAF) is another step in this regard.
The TFA, which is in force since 2017, aims to make border procedures in international trade more efficient and secure. Its proper implementation can help address many inefficiencies in cross-border trade. Thus, it is one of the key WTO tools to enhance resilience of international supply chains.
The Covid-19 pandemic, and the consequent need to ensure rapid supplies of production inputs as well as smooth distribution of vaccines and other health related products all around the world, has underlined the important role of proper implementation of the TFA.
The Czech Republic highly values the assistance the TFAF is providing to developing countries and LDCs in their implementation of the TFA, while addressing their specific needs and challenges.
More information can be found here.
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