New Delhi, July 21 (KNN) In order to foster growth of industry and to facilitate global trade, the World Trade Organization-Trade Facilitation Agreement has to be implemented in its true essence, experts said.  

During a press meet at an event organized by FICCI, Kunio Mikuriya, Secretary General of World Customs Organization (WCO) emphasized the need to implement the World trade facilitation agreement (TFA) as well as the World Customs Organization Mercator programme.

Commenting on the National Trade Facilitation Action Plan that was rolled out by the government earlier, Mikuriya said that the plan has several concrete steps in line with the agenda. Also India being an essential strategic transition point, it is important for India to connect well with its border countries.

Dr Junaid Kamal Ahmad, Country Director of the World Bank spoke of the trade facilitation and its role in helping India become a high-middle income level economy.

Vanjana Sarna, Chairperson of Central Board of Excise and Customs informed about the76 point strategy introduced by the National Committee on Trade Facilitation to complement the World Trade Organization’s TFA. The Chairperson further said that the TFA will prove to a game changer in the global trade scenario.

TO ensure the smooth implementation, Sarna informed that a steering committee headed by the Revenue Secretary and Commerce Secretary is being formed. Also Cabinet Secretary will review the plan from time to time.

The experts made these remarks during a press meet at an event on ‘Trade Facilitation Agreement: Learning from Implementation Experiences’, organized by FICCI jointly with the Central Board of Excise and Customs (CBEC), Ministry of Finance, Government of India and The World Bank in partnership with FFFAI, DCCAA and EICI. (KNN/ DA)