With Mongolia becoming the 100th country to ratify the WTO TFA, only 10 more ratifications are needed for the TFA to enter into force. South Africa and Namibia remain the sole Sacu members that have not ratified the TFA and it is not envisaged that South Africa will do so.
The TFA implementation is expected to reduce WTO members’ trade costs by an average of 14.3%, making it the most significant tariff and trade development for 2017.