The “Trade Facilitation Agreement” (TFA), the first multilateral agreement in the WTO’s 21-year history, ratified by 2/3rd members of WTO to become a reality. TFA is expected to reduce trade costs by an average of 14.3 per cent, with developing countries reaping most of the gains TFA’s main feature, said Ralhan, is its resolve to harmonize global rules for the movement, clearance and release of goods. It will make trade-related administration easier and less costly, thus helping to provide an important and much needed boost to global economic growth. The Agreement is expected to add to global growth by 0.5 per cent.