Trade Facilitation Agreement:
- Under WTO.
- Negotiations for it completed at Bali summit, 2013
- It is for both developing and developed countries
- Aims to remove “Red Tape” at customs i.e. to make import/export hassle free and less cumbersome
- Also have provisions of technical assistance and capacity building
- Issue? India wants TFA for services too.
National Committee on Trade Facilitation (NCTF)
- The NCTF is a mandatory requirement under the WTOs Trade Facilitation Agreement (TFA).
- It is a national level body to facilitate domestic co-ordination and implementation of TFA provisions.
- It aims to develop the pan-India road map for trade facilitation.
- It will have three tier structure with main national committee for monitoring implementation of TFA