TNPSC Thervupettagam

National Trade Facilitation Action Plan (NTFAP)

July 24 , 2017 2440 days 1364 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

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