Trade Facilitation Pact Ratification Approved

India Asked by WTO To Remove Export Subsidy on Raw Sugar
  • The Cabinet has approved a proposal for ratification of the Trade Facilitation Agreement (TFA) of World Trade Organization (WTO).
  • This aims at easing customs rules for expediting global trade flow of goods. For the TFA to be operational, two-thirds (or 108) of the 162 WTO members will have to ratify it.
  • However, only 69 countries have ratified it so far.