The WTO’s trade facilitation agreement, which seeks to ease customs norms, came into effect from with its two-thirds members ratifying the pact.
The TFA, which has been ratified by India, will give a boost to the global trade, which has been impacted due to slowdown in the world economy.
According to experts, the agreement comes at a time when India’s efforts to improve exports are gaining momentum.
The 164-member World Trade Organisation (WTO) in a statement stated that a major milestone for the global trading system was reached as the first multilateral deal concluded in the 21-year history of the multi-lateral trade body entered into force.
What can be the possible questions of above news:
Q1. What is the full form of WTO
Q2. Where is the headquarter of WTO
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Source- The Indian Express