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Friday, 21 July 2017

Finance Minister releases National Trade Facilitation Action Plan

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Finance Minister Arun Jaitley released the National Trade Facilitation Action Plan and said the WTO-Trade Facilitation Agreement (TFA) coming into force on February 22, 2017, was a major milestone for the global trading system. Jaitley further said India looks forward to ensuring compliance with the TFA, according to a Finance Ministry statement.

"This Action Plan gives a time bound map, not only for implementing TFA but also for India's initiatives for trade facilitation and ease of doing business which goes beyond TFA," the statement quoted the finance minister as saying. Jaitley was speaking after releasing the National Trade Facilitation Action Plan (NTFAP) here.

According to Ripples Advisory Private Limited, Indore, the national action plan aims to transform cross border clearance ecosystem through efficient, transparent, risk based, coordinated, digital, seamless and technology driven procedures which are supported by state-of-the-art sea ports, airports, and land borders.

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