Venezuela enters WTO Trade Facilitation Agreement (TFA)

Venezuela has entered the World Trade Organization (WTO) International Trade Facilitation Agreement, which leads to reduced costs in the nation's trade transactions, said Vice President Delcy Rodriguez on Wednesday.

Venezuela's entry into the agreement means a 14-percent reduction in foreign trade costs, she said. Venezuela applied to join the Trade Facilitation Agreement at the 13th WTO Ministerial Conference held in February in the United Arab Emirates.