Cabinet nod for WTO's trade facilitation pact

The Union Cabinet approved the World Trade Organisation’s trade facilitation agreement to further improve the ease of doing business in India.

Trade Facilitation Agreement (TFA) contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets out measures for effective cooperation between customs and other authorities on trade facilitation and customs compliance issues.

To facilitate both domestic coordination and implementation of the provisions of the Agreement, a National Committee on Trade Facilitation would be set up under the joint chair of Secretary, Department of Revenue and Secretary, Department of Commerce, an official statement said.