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Committee on Trade Facilitation to work towards reducing transaction cost, facilitate smooth movement of goods

Updated: Mar 28, 2017 08:09:25am
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Committee on Trade Facilitation to work towards reducing transaction cost, facilitate smooth movement of goods

New Delhi, Mar 28 (KNN) The National Committee on Trade Facilitation (NCTF) under the Chairmanship of Cabinet Secretary will necessitate simplification of border management procedures and adoption of new transparency measures, all of which are expected to reduce the transaction cost of imports and exports and facilitate smooth movement of goods across borders.

Commerce and Industries Minister Nirmala Sitharaman said that after the ratification of the Trade Facilitation Agreement (TFA) of World Trade Organization (WTO) by India in April, 2016, NCTF was constituted.

She informed the Parliament in a written reply that India tabled the “Concept Note for an initiative on Trade Facilitation in Services” at the WTO to facilitate discussion among WTO members with an aim to achieve an outcome.

India’s proposal on Trade Facilitation in Services and the US visa fee hike for H-1B and L-1 categories are different issues and are being taken up separately at the appropriate level. 

Government of India has been consistently taking up the issue of tightening norms for skilled foreign workers with the Government of UK at the highest levels.

“The UK Government has been urged to not accept the recommendations of the Migration Advisory Committee (MAC) in the interest of the bilateral trade in services between India and the UK, Sitharaman said.

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