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Korea joins WTO's Trade Facilitation Agreement Updated: 2015-07-31 14:15:41 KST

Korea has issued acceptance of the World Trade Organization's historic trillion-dollar trade deal, making it the ninth country out of the one-hundred-61 W-T-O members to do so.
The T-F-A is the first and most comprehensive multilateral agreement to be concluded since the W-T-O's inception 20 years ago but will not enter into force until it is ratified by the required two-thirds of the membership …or 108 countries.
The International Chamber of Commerce forecasts that the agreement will unlock a potential of over one trillion U.S. dollars in global economic value and create at least 21 million new jobs once it enters into force.
The pact is also expected to boost Korea's GDP and exports in the long run.
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KOGL : Korea Open Government License
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