India ratifies Trade Facilitation Agreement

India has ratified the new Trade Facilitation Agreement (TFA). India’s WTO ambassador Anjali Prasad handed over her country’s instrument of acceptance to Director-General Roberto Azevêdo on 22 April.

“I’m very pleased to receive India’s instrument of ratification from Ambassador Prasad,” DG Azevêdo said. “India is one of the most dynamic economies in the world today and has become a top recipient of foreign investment. Ratifying the WTO’s Trade Facilitation Agreement will help India further boost economic growth by reducing trade costs and supporting its integration into the global economy.”

Concluded at the WTO’s 2013 Bali Ministerial Conference, the 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 appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.

This has been excerpted from a 22 April 2016 news item by the World Trade Organization and is available in its entirety at:
https://www.wto.org/english/news_e/news16_e/fac_21apr16_e.htm