Home / Knowledge / News / Textiles / Govt okays WTO trade facilitation deal
Govt okays WTO trade facilitation deal
18
Feb '16
The Union Cabinet has approved WTO's Trade Facilitation Agreement (TFA) and decided to set up a national committee for overseeing the implementation of the deal which aims to smoothen the flow of global commerce.

The Cabinet approved the proposal for Notification of Commitments under the TFA of WTO, ratification and acceptance of the Instrument of Acceptance of Protocol of TFA to the WTO Secretariat and constitution of the National Committee on Trade Facilitation (NCTF), said IT and Telecom Minister Ravi Shankar Prasad., according to an agency report.

The NCTF would be set up under the Joint Chair of Secretary, Department of Revenue and Secretary, Department of Commerce to facilitate both domestic coordination and implementation of the provisions of the Agreement.

TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also lists measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues.

These objectives are in line with India's "Ease of Doing Business initiative", Prasad said.

The FTA was agreed upon at a multilateral meeting in Bali in 2013. The pact will enter into force once two-thirds of WTO members complete their domestic ratification process. So far 69 WTO members have ratified this pact. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pexels

Textiles | On 15th Jul 2018

WCO publishes global standards on e-commerce

The World Customs Organization (WCO) has published the Framework of...

Courtesy: M Dohmen

Textiles | On 15th Jul 2018

Archroma takes remaining minority shares in M Dohmen

Archroma, leader in colour and specialty chemicals towards...

Courtesy: Reebok

Fashion | On 15th Jul 2018

Reebok, CFDA join hands to nurture America's fashion

Global fitness and lifestyle brand Reebok has joined hands with the...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search