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BPSC (Bihar) Exam  >  BPSC (Bihar) Questions  >  Trade facilitation agreement (TFA) was propos... Start Learning for Free
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Trade facilitation agreement (TFA) was proposed by 
  • a)
    The United Nations Conference on Trade and Development (UNCTAD)
  • b)
    European Economic Community
  • c)
    World Trade Organisation (WTO)
  • d)
    The Association of Southeast Asian Nations (ASEAN)
  • e)
    None of the above/More than one of the above.
Correct answer is option 'C'. Can you explain this answer?
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Trade facilitation agreement (TFA) was proposed bya)The United Nations...
  • WTO members concluded negotiations at the 2013 Bali Ministerial Conference on the landmark Trade Facilitation Agreement (TFA), which entered into force on 22 February 2017 following its ratification by two-thirds of the WTO membership.
  • Trade facilitation - the simplification, modernization, and harmonization of export and import processes, has therefore emerged as an important issue for the world trading system.
  • Bureaucratic delays and “red tape” pose a burden for moving goods across borders for traders.
  • The TFA contains provisions for expediting the movement, release, and clearance of goods, including goods in transit.
  • It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues.
Important Points
  • World Trade Organization-:
    • The General Agreement on Tariffs and Trade (GATT), signed on 30 October, 1947, by 23 countries.
    • The GATT came into force on 1 January 1948.
    • Since 1948 it has been refined, eventually leading to the creation of the World Trade Organization (WTO) on January 1, 1995.
    • The Marrakesh Agreement established the WTO.
    • GATT's Uruguay Round proposed to set up WTO. (Asked in MPSC mains 2019)
    • The WTO provides a forum for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all, thus contributing to economic growth and development.
  • The WTO's main activities are-
    • Negotiating the reduction or elimination of obstacles to trade (import tariffs, other barriers to trade) and agreeing on rules governing the conduct of international trade (e.g. antidumping, subsidies, product standards, etc.)
    • Administering and monitoring the application of the WTO's agreed rules for trade in goods, trade in services, and trade-related intellectual property rights.
    • Monitoring and reviewing the trade policies of our members, as well as ensuring transparency of regional and bilateral trade agreements.
    • Settling disputes among our members regarding the interpretation and application of the agreements.
    • Building capacity of developing country government officials in international trade matters.
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Community Answer
Trade facilitation agreement (TFA) was proposed bya)The United Nations...
  • WTO members concluded negotiations at the 2013 Bali Ministerial Conference on the landmark Trade Facilitation Agreement (TFA), which entered into force on 22 February 2017 following its ratification by two-thirds of the WTO membership.
  • Trade facilitation - the simplification, modernization, and harmonization of export and import processes, has therefore emerged as an important issue for the world trading system.
  • Bureaucratic delays and “red tape” pose a burden for moving goods across borders for traders.
  • The TFA contains provisions for expediting the movement, release, and clearance of goods, including goods in transit.
  • It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues.
Important Points
  • World Trade Organization-:
    • The General Agreement on Tariffs and Trade (GATT), signed on 30 October, 1947, by 23 countries.
    • The GATT came into force on 1 January 1948.
    • Since 1948 it has been refined, eventually leading to the creation of the World Trade Organization (WTO) on January 1, 1995.
    • The Marrakesh Agreement established the WTO.
    • GATT's Uruguay Round proposed to set up WTO. (Asked in MPSC mains 2019)
    • The WTO provides a forum for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all, thus contributing to economic growth and development.
  • The WTO's main activities are-
    • Negotiating the reduction or elimination of obstacles to trade (import tariffs, other barriers to trade) and agreeing on rules governing the conduct of international trade (e.g. antidumping, subsidies, product standards, etc.)
    • Administering and monitoring the application of the WTO's agreed rules for trade in goods, trade in services, and trade-related intellectual property rights.
    • Monitoring and reviewing the trade policies of our members, as well as ensuring transparency of regional and bilateral trade agreements.
    • Settling disputes among our members regarding the interpretation and application of the agreements.
    • Building capacity of developing country government officials in international trade matters.
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Trade facilitation agreement (TFA) was proposed bya)The United Nations Conference on Trade and Development (UNCTAD)b)European Economic Communityc)World Trade Organisation (WTO)d)The Association of Southeast Asian Nations (ASEAN)e)None of the above/More than one of the above.Correct answer is option 'C'. Can you explain this answer?
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