As world trade becomes the norm, cross-border trade has changed considerably in recent years. Parties on both sides of the trade prefer international corridors where the time for the release of goods is shorter and the procedure is simpler. Therefore, in order to promote cross-border trade, governments are focusing on optimizing regulatory processes to reduce the time spent on trade-related procedures. Trade facilitation objectives have been included in the international agenda, mainly due to four major factors. Full implementation of FTAs is estimated to reduce trade costs by an average of 14.3% and boost world trade by up to $1 trillion per year, with the highest growth in the poorest countries. For the first time in the history of the WTO, the implementation of the agreement is directly linked to the country`s ability to do so. A Trade Facilitation Mechanism (TFAF) has been set up to ensure that developing and least developed countries receive the assistance they need to take full advantage of the benefits of the TFA. Pre-freight reporting, information for small and medium-sized traders, regulatory harmonization, data harmonization and risk management are areas for improvement that are highlighted in the global studies of the DEVELOPPEMENT SYSTEM. The 2014 Trade Facilitation Agreement was confirmed in December 2013 at the Ninth Ministerial Conference in Bali, Indonesia.  After nearly 20 years of negotiations, the agreement was officially extended on 27 December 2014 to the membership of the 160-member World Trade Organization (WTO).  However, the agreement will not be ratified until two-thirds of the members have informed the WTO of their agreement. For the WTO, the agreement can be seen as a historic achievement, given that it is the first multilateral agreement since the creation of the WTO in 1995. The 2014 Trade Facilitation Agreement is a global multilateral initiative to streamline strict procedures governing international trade.
The agreement focuses mainly on many positive effects on developed and least developed countries. The Trade Facilitation Agreement is estimated to reduce trade costs by an average of 14.5%. In return, it would improve world trade by a trillion dollars.  This reduction in bureaucratic bureaucracy will have a positive impact on small and medium-sized enterprises and will facilitate trade and membership in global value chains. One of the most important aspects of this agreement is the new principle that the commitments made by developing and least developed countries in implementing the provisions of the agreement will be conditional on the acquisition of the necessary technical capabilities.  Currently, the cost of international trade is about $2 trillion.  This situation is due to a number of factors, including unnecessary customs procedures, marginal taxes and unnecessary duplication.  The economic benefits of the Trade Facilitation Agreement are not yet fully discernible and measured.