Trade Facilitation Agreement

♤ WTO members concluded negotiations at the 2013 Bali Ministerial Conference on the landmark Trade Facilitation Agreement (TFA), which entered into force on 22 February 2017 following its ratification by two-thirds of the WTO membership.

♤ The agreement aims at easing the movement of goods across borders through expediting the movement, release and clearance of goods, including goods in transit.

♤ It seeks to simplify, modernize and harmonize export and import processes, reduce bureaucratic delays and red tapism. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.

♤ The Union Government has ratified TFA and constituted a National Committee on Trade Facilitation (NCTF) to develop the pan-India road map for trade facilitation.

o The NCTF will be inter – ministerial body headed by Cabinet Secretary

o It will have three tier structures with main national committee for monitoring implementation of TFA.