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Question

Consider the following statements:
1. India has ratified the Trade Facilitation Agreement (TFA) of WTO.
2. TFA is a part of WTO's Bali Ministerial Package of 2013.
3. TFA came into force in January 2016.

Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3

Answer:

A

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Explanation:

Statement 1 is correct. India has ratified the TFA, signaling its commitment to implement the agreement's provisions and facilitate trade.

Statement 2 is correct. The TFA was adopted as part of the Bali Ministerial Package during the ninth WTO Ministerial Conference held in Bali, Indonesia, in 2013. The Bali Ministerial Package included several agreements, and the TFA was one of its key components.

Statement 3 is incorrect. The TFA did not come into force in January 2016. It entered into force on February 22, 2017, after two-thirds of the WTO members, including India, completed the domestic ratification process. The agreement's implementation began after it entered into force.

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