Consider the following 1 India and other developing countries are opposing Trade Faci...........

Economic Affairs Foreign Trade - Trends and Policy

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Consider the following:

1) India and other developing countries are opposing Trade Facilitation Agreement (TFA) because it is discriminatory.

2) TFA contains provisions for faster and more efficient customs procedures and customs compliance issues.

Select the correct statement/s using codes given below.

1only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Exp:- Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives.

Exp:- WTO TFA has become an agreement in order to maintain a competitive advantage in global markets, most countries have focused their trade facilitation efforts on establishing electronic single windows and other paperless trade systems to further reduce trade costs.