TFA to help reduce red-tapism, faster clearances: Sitharaman

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SME Times News Bureau | 04 May, 2016
The Minister of State (Independent Charge) for Commerce & Industry, Nirmala Sitharaman Monday said that Trade Facilitation Agreement (TFA) envisages faster clearances and reduction of red tapism at the borders and would thereby help in the ease of doing business.

She said that ratification of the TFA is bound to change the Indian trade and would bring more transparency in trade process. She said that after TFA ratification, the world wide best trade practices would be shared among the member countries.

She said, "While we have made rapid strides in streamlining our processes on the line of International best practices, in several areas, we need to ensure speedy legislation so that there are visible beneficial outcomes."

The Minister said that industry and its various associations would be associated in the consultation process while implementing the different provisions of the TFA.

The minister was addressing the Consultative Committee Meeting attached to her Ministry on the subject of 'Implementation of Trade Facilitation Agreement' In New Delhi on Monday.

Sitharaman said through trade facilitation member countries would seek to simplify trade procedures and help promote cross border trade, bring greater predictability to traders and help improve the overall climate for trade and investment.

She said that TFA is supposed to enable domestic manufacturers, particularly Small and Medium Enterprises, connect more easily to regional and Global Value Chains.

She said that TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets-out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. She said these objectives of TFA are in consonance with India’s ease of doing business initiative.

Earlier, a detailed presentation on Trade Facilitation Agreement and the issues concerning its implementation etc was made by Shri Dammu Ravi, Joint Secretary, Ministry of Commerce.

India has notified its Category 'A' commitments to the WTO and has ratified the TFA domestically and would be depositing the instrument of ratification to WTO by end of April 2016. India has also initiated the process to set-up a National Committee on Trade Facilitation (NCTF) to domestically coordinate and implement the TFA. The NCTF would institutionalize the co-ordination mechanism in such a manner the 35 plus Departments, private players and State Governments who have international borders are on the same page as far as the trade facilitation is concerned.

Later the Members of the Consultative Committee participated in the discussion and gave various valuable suggestions. Ajay Sancheti, Member (Rajya Sabha) said while implementing WTO Agreement on TFA, adequate measures be taken to protect our domestic industries. Replying to this suggestion of the Member, Smt. Rita Teaotia, Secretary, Ministry of Commerce said that measures such as anti dumping, safeguard duty and counter-veiling etc are being taken by the Government from time to time to protect our domestic industries.

Sitharaman welcomed the suggestion of the Member and assured that adequate measures will be taken in this regard in order to protect the environment.