UPSC Previous Year Question | Prelims GS | 2017

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?

  1. 1 and 2 only
  2. 1 and 3 only
  3. 2 and 3 only
  4. 1, 2 and 3

Answer

Correct Answer

1 and 2 only

Explanation

India ratified the WTO's Trade Facilitation Agreement (statement 1 correct), which was part of the Bali Ministerial Package agreed in 2013 (statement 2 correct). However, TFA actually came into force in February 2017, not January 2016, making statement 3 incorrect.

Topics: economy, tfa ratification and timeline, trade facilitation agreement, wto and international trade