Home / Knowledge / News / Textiles / 'TFA for faster clearances of trade process'
'TFA for faster clearances of trade process'
03
May '16
Commerce and Industry Minister Nirmala Sitharaman has said that Trade Facilitation Agreement (TFA) envisages faster clearances and reduction of red tape at the borders and would thereby help expedite the ease of doing business.

She was addressing the Consultative Committee Meeting attached to her Ministry on the subject of 'Implementation of Trade Facilitation Agreement' in New Delhi on Monday.

The Minister said that ratification of the TFA is bound to change the Indian trade and would bring more transparency in trade process.

She said that after TFA ratification, the world wide best trade practices would be shared among the member countries.

WTO members had concluded negotiations on the landmark TFA at their 2013 Bali Ministerial Conference and are now in the process of adopting measures needed to bring the Agreement into effect.

“While we have made rapid strides in streamlining our processes on the line of International best practices, in several areas, we need to ensure speedy legislation so that there are visible beneficial outcomes. The Minister said that industry and its various associations would be associated in the consultation process while implementing the different provisions of the TFA,” Sitharaman said.

She said that TFA would enable domestic manufacturers, particularly Small and Medium Enterprises, connect more easily to regional and Global Value Chains.

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, she said.

Sitharaman said these objectives of the TFA are in consonance with the government's initiative of ensuring ease of doing business. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

APTMA calls for implementation of PM’s export package

Textiles | On 21st Oct 2017

APTMA calls for implementation of PM’s export package

The All Pakistan Textiles Mills Association (APTMA) has called for...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search