FREE TRADE AREA OF THE AMERICAS
FIFTH MEETING OF MINISTERS OF TRADE MINISTERIAL DECLARATION TORONTO, CANADA
4 NOVEMBER, 1999
Business Facilitation
We agree to a number of specific
business facilitation measures as part of our continuing efforts to
achieve progress in creating an FTAA. These measures reflect the
substantive work that has emanated from the FTAA process to date. We
have adopted a thematic approach to business facilitation and have
concentrated our initial work in the areas of customs procedures and
enhanced transparency in response to the priorities identified by our
business communities.
We are pleased that resources have been
identified in the Inter-American Development Bank for technical
assistance to facilitate implementation of these measures, particularly
in smaller economies. In particular we appreciate the willingness of
the Multilateral Investment Fund to consider financial support for the
implementation of these measures.
In the area of customs, we agree to
implement, beginning on January 1, 2000, the eight specific measures
set out in
Annex
II to this Declaration. These measures will contribute
significantly to the conduct of business in the hemisphere by reducing
transaction costs and creating a more consistent and predictable
business environment.
The transparency measures outlined in
Annex
III will make our procedures and regulations better known and more
accessible to the public. The information contained in
Annex
III will be kept current and relevant to our business communities
and other interested parties, taking advantage of new technologies.
We agree that business facilitation is
an ongoing process and we have directed the TNC:
to supervise the full implementation
of these measures by the target date of our next Ministerial meeting;
to facilitate the provision of
technical assistance for implementing the measures, in particular for
the smaller economies;
to review progress and report to us
at our next meeting; and
to identify, consider and recommend
additional business facilitation measures, calling on experts as
appropriate, and report to us at our next meeting.
We note that in addition to our work,
initiatives that improve the business climate are proceeding in the
hemisphere in other fora as part of the broader effort being made on
trade and economic integration.