WTO trade facilitation pact cleared

Nearly two years after the Bali agreement, the Cabinet on Wednesday approved the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA), which seeks to ease Customs procedures to boost commerce. To implement the agreement, two-thirds of the total members, or 107 countries, have to approve it. India was the 71st country to give nod to the agreement.

This has been excerpted from a 17 February 2016 news release by the Business Standard and is available in its entirety at: http://www.business-standard.com/article/economy-policy/wto-trade-facilitation-pact-cleared-116021700745_1.html