Consider the following statements:India has ratified to Trade Facilitation Agreement (TFA) of WTO.TF

Question

Consider the following statements:India has ratified to Trade Facilitation Agreement (TFA) of WTO.TFA is a part of WTO’s Bali Ministerial Package of 2013.TFA came into force in January 2016.Which of the statements given above is/are correct?

Accepted Answer

The Trade Facilitation Agreement (TFA) is the WTO's first-ever multilateral accord that aims to simplify customs regulations for the cross-border movement of goods. It was the outcome of the WTO's 9th Bali (Indonesia) ministerial package of 2013. India ratified it in April 2016. It came into force in February 2017. Thus, statement 3 is not correct.