A trade agreement promoting faster, cheaper and easier trade that entered into force this week is \u201cgreat news for airlines, which deliver about a third of the goods traded across borders by value,\u201d said Alexandre de Juniac, IATA\u2019s director general and CEO. The Trade Facilitation Agreement (TFA), which passed Wednesday, follows the ratification of the treaty by two-thirds of the members of the World Trade Organization.
\nThe agreement promotes trade by establishing harmonized rules for expediting the movement, release and clearance of goods crossing borders, including goods in transit. Of particular interest to the air transport industry is the agreement\u2019s commitment to accepting e-payments and electronic documentation. This aligns with the industry\u2019s goal to modernize air cargo and IATA\u2019s e-freight program.
\nFedEx\u2019s Fred Smith, free trade proponent
\nThe news is a particularly timely reminder of the dangers of protectionist rhetoric, which is growing louder various parts of the world. In the words of FedEx founder Fred Smith, \u201cThe United States being cut off from trade would be like trying to breath without oxygen.\u201d
\nWith the treaty now in force, IATA\u2019s Juniac urged governments to \u201cmove forward with early implementation,\u201d so that the TFA\u2019s benefits can be felt as soon as possible across the industry.
\n\u201cAviation is the business of freedom,\u201d he added \u201cAir cargo is a vital link in the manufacturing supply chain and between producers and consumers. We look forward to working with governments and airlines to maximize the benefits of the TFA and make air cargo an even more potent catalyst for jobs, growth, and prosperity.\u201d
\nRobert Keen, director general of the British International Freight Association (BIFA) noted that the agreement \u201caims to simplify and clarify international import and export procedures, customs formalities and transit requirements.\u201d He said the new rules would lower trading costs, providing a boost to global economic growth. \u201cIf better border procedures and faster, smoother trade flows result from the agreement and help to revitalize global trade, BIFA members, which facilitate much of the UK\u2019s visible trade, will benefit.\u201d
\nKeen echoed other warnings that, with some nations attacking multi-country free-trade deals in favor of bilateral relationships, the global economy risked a return to \u201cthe bad old days\u201d of protectionism.
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
A trade agreement promoting faster, cheaper and easier trade that entered into force this week is \u201cgreat news for airlines, which deliver about a third of the goods traded across borders by value,\u201d said Alexandre de Juniac, IATA\u2019s director general and CEO. The Trade Facilitation Agreement (TFA), which passed Wednesday, follows the ratification of the[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":2240,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-2239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/2239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/comments?post=2239"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/2239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media\/2240"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media?parent=2239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/categories?post=2239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/tags?post=2239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}