WTO's trade facilitation agreement comes into effect
PTI The WTO's trade facilitation agreement, which seeks to ease customs norms, has come into effect from Wednesday with its two-thirds members ratifying the pact. The TFA, which has been ratified by India, will give a boost to the global trade, which has been impacted due to slowdown in the world economy.According to experts, the agreement comes at a time when India's efforts to improve exports are gaining momentum."As the pact has come into force, the member countries who have ratified would now be required to ease customs barriers.It would help countries like India which are trying to push exports," said Biswajit Dhar, professor at the Jawaharlal Nehru University.The 164-member World Trade Organisation (WTO) in a statement said that a major milestone ...
