The United States Senate Committee on Foreign Relations has approved the Global Gateways Trade Capacity Act. The legislation would bolster trade capacity building initiatives for developing countries, potentially reducing barriers to trade and benefiting the air cargo supply chain.
Among other things, the bill includes provisions that would:
- Promote the adoption of automation and transparency in developing countries’ border-related regulations and practices;
- Authorize a pilot program that would support implementation of the WTO Trade Facilitation Agreement (TFA) by developing countries. (TIACA has strongly supported the TFA and has urged WTO members to ratify and implement it so that the air cargo industry can benefit from its many facilitative reforms);
- Seek input and assistance from private stakeholders in developing country trade facilitation initiatives.
The bill must still obtain approval from the full Senate and, separately, the US House of Representatives before it can become law. If enacted, it could provide significant impetus for implementing the TFA. TIACA plans to continue to work with like-minded groups to support passage of this legislation.