GENEVA (Reuters) - A World Trade Organization agreement to cut red tape and streamline border checks came into force on Wednesday, with expectations of a 0.5 percent boost to the world economy by 2030, WTO Director General Roberto Azevedo said.
"The trade facilitation agreement is the biggest reform of global trade this century," Azevedo told a news conference. Trade costs are expected to fall by 14.3 percent on average, and by much more in poorer countries, adding 2.7 percent to global trade by 2030.
(Reporting by Tom Miles; Editing by Catherine Evans)
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