Question 58 from UPSC CSE 2017 - Current
Affairs

Question

Consider the following statements:
1. India has ratified the Trade Facilitation Agreement (TFA) of WTO.
2. TFA is a part of WTO's Bali Ministerial Package of 2013.
3. TFA came into force in January 2016.
Which of the statements given above is/are correct?

Accepted Answer

Correct Option: A. 1 and 2 only

Strategy: - Focus on keywords related to dates and timelines.
- Validate Statement 1 using knowledge of India's WTO commitments.
- Confirm the link between the TFA and the Bali Package for Statement 2.
- Identify the incorrect enforcement year in Statement 3 (January 2016 instead of February 2017).
- Eliminate all options containing the incorrect statement 3.
- Select the remaining correct option, A.

Key Info: **About the Trade Facilitation Agreement (TFA)**

The TFA is a multilateral trade treaty under the World Trade Organization (WTO) designed to expedite the movement, release, and clearance of goods across borders. It is the first WTO agreement concluded since the organization's inception in 1995.

The agreement was finalized at the 9th WTO Ministerial Conference in Bali, Indonesia, in December 2013, as part of the Bali Package. India ratified the TFA on 22 April 2016. The agreement officially entered into force on 22 February 2017, after being accepted by two-thirds of the WTO member nations.

Key provisions of the TFA include:
*   Cooperation between customs and other authorities.
*   Reduction of red tape.
*   Simplification of documentation.
*   Capacity-building for developing and least-developed countries.

Implementation timelines are categorized into A, B, and C commitments based on each nation's capacities. For India, compliance with the TFA is aligned with its Ease of Doing Business and trade competitiveness objectives.

Answer

Option B: 1 and 3 only

Answer

Option C: 2 and 3 only

Answer

Option D: 1, 2, and 3

Consider the following statements: India has ratified the Trade Facilitation Agreement (TFA) of WTO. TFA is a part of WTO's Bali Ministerial Package of 2013. TFA came into force in January 2016. Which of the statements given above is/are correct?

Consider the following statements:

India has ratified the Trade Facilitation Agreement (TFA) of WTO.

TFA is a part of WTO's Bali Ministerial Package of 2013.

TFA came into force in January 2016.
Which of the statements given above is/are correct?