Mozambique became a member of the World Trade Organization (WTO) after the ratification of the Trade Facilitation Agreement (TFA), on 6th January. Therefore, for the agreement to enter into force, accession will only be required by four Member States, corresponding, in total, to two-thirds of the WTO members.
The scope of the agreement is to reduce international trade costs, which can fall from 12.5% to 17.5%, according to the WTO, which is an important instrument that will increase trade and, consequently, increase world income.
It is worth noting that the above-mentioned prediction was based on a study of the Organization for Economic Co-operation and Development (OECD), which concluded that "exports from developing countries can increase between 14% and 22% and are more diversified."