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
Correct Answer
B
1 and 3 only
C
2 and 3 only
D
1, 2 and 3
Explanation
Option (a) is correct because India ratified the TFA in April 2016, and the agreement was a landmark outcome of the 2013 Bali Ministerial Package designed to simplify global customs procedures. Statement 3 is incorrect because the TFA officially entered into force on February 22, 2017, only after the required two-thirds of WTO members had completed their ratification process. The core concept tested is the institutional history and implementation timeline of major WTO multilateral agreements.
International Trade & OrganizationsWTO Trade Facilitation Agreement (TFA)Trade Facilitation AgreementTFAWTOratifiedBali Ministerial Package2013came into forceJanuary 2016