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The Government on Wednesday said it has ratified the Trade Facilitation Agreement (TFA) of the WTO and the pact aims to expedite the movement, release and clearance of goods, including goods in transit.
“India has ratified the Trade Facilitation Agreement (TFA) of the World Trade Agreement (WTO) and the instrument of Acceptance for Trade Facilitation Agreement was handed over to WTO Director-General by India on April 22,” Minister of State for Commerce and Industry Nirmala Sitharaman said in a written reply to the Rajya Sabha.
The pact will come into force once two-thirds of WTO members have completed their domestic rectification process, Sitharaman added.
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