Trade Agreement Opens Doors for Lube Exporters

摘要

On Feb. 22, the World Trade Organization's trade facilitation agreement (TFA) came into force after more than three years of negotiations with member countries, The agreement binds participating countries to set up measures for the harmonization of import-export procedures, helping U.S. lubricant exporters gain entry into new overseas markets and, at the same time, ensuring these markets remain open and accessible. ILMA members shared their thoughts with Compoundings on the significance of the agreement for lubricant manufacturers and exporters targeting markets in regions such as Latin America, Europe and Asia.