PREVIOUS
✖
National Trade Facilitation Action Plan (NTFAP)
July 24 , 2017
2691 days
1901
0
• India’s NTFAP aims to reduce cargo release time for exports and imports.
• NTFAP has been described by the World Customs Organisation (WCO) as a ‘best practice’ that other nations can adopt and it goes beyond the requirements of WTO’s TFA.
• NTFAP is to be implemented between 2017 and 2020.
• It is part of India’s efforts to improve its ease of doing business ranking in the World Bank’s annual report.
• WCO is the international body supporting the uniform implementation of the TFA across the globe.
Trade Facilitation Agreement (TFA)
• The TFA under WTO is meant to ease Customs norms for faster flow of goods across borders. India Ratified TFA in 2016.
• TFA had come into effect in February 2017.
• The full implementation of the TFA could boost global trade by up to $1 trillion per year.
• National Committee on Trade Facilitation (NCTF) headed by the Cabinet Secretary was constituted to look after the implementation TFA
Leave a Reply
Your Comment is awaiting moderation.