Trade Facilitation Agreement India Pdf

The Trade Facilitation Agreement (TFA) is part of a broader reform to promote international trade, planned at the WTO Ministerial Conference in Bali in December 2013, Indonesia, which continued from the Doha meetings. The TFA, which aims to simplify customs procedures, increase transparency and reduce transaction costs, is encouraged by the United States and other developed countries who wish to strengthen their economies weakened by international free trade through uniform and simple customs procedures. The TFA aims to facilitate trade relations between countries by reforming global tariffs and tariffs and reducing bureaucracy at international borders. According to some estimates, the TFA could contribute $1 trillion to new world trade and create 20 million new jobs worldwide. The Trade Facilitation Agreement (TFA) is a trade protocol that aims to stimulate and rule out stumbling blocks in international trade between different countries. []] > 8.2 Where such an option is given under paragraph 8.1 below and the importer does not exercise it within a reasonable time, the competent authority may take a different approach in the fight against these non-compliant products. 9 Temporary importation of goods and goods after and after-processing 9.1 Temporary authorization of goods Each member authorizes, as stipulated in its laws and regulations, to be exempt from import duties and taxes under certain conditions, in whole or in part, when these goods are transported to their customs territory for specific purposes, intended for re-export within a specified period and having made no changes, except for normal depreciation and waste. 9.2 Passive and Passive Development (a) Each member authorizes, as stipulated in its laws and regulations, the development of goods. Goods admitted to passive development may be reintroduced in full or partial duty and import taxes, in accordance with the member`s laws and regulations.

(b) For the purposes of this article, “successful development” means the customs regime by which certain goods may be placed in the customs territory of a member who, under certain conditions, is exempt, in whole or in part, from the payment of import duties or is eligible for the rebate, since these goods are destined for manufacture, processing, repair and subsequent export; c) For the purposes of this article, “passive development” means the customs regime by which goods in a member`s customs area in a member`s customs territory may be temporarily exported abroad for manufacture, processing or repair and then re-imported. WT/L/931 – 15 – ARTICLE 11: FREEDOM OF TRANSIT 1. Member-imposed transit traffic regulations or formalities cannot be complied with if the circumstances or objectives that lead to their adoption no longer exist or when the changed circumstances or objectives can be addressed in a reasonably less limited manner; (b) would be applied in a manner that would constitute a disguised restriction on transit traffic. 2. Traffic during transit is not subject to the collection of fees or charges collected for transit, with the exception of transport charges or charges corresponding to the administrative costs of transit or the cost of the services provided. 3. Members are not permitted to search for, take or maintain voluntary restrictions or similar transit traffic measures. This applies without prejudice to existing or future national, bilateral or multilateral regulations, which regulate transport in accordance with WTO rules. 4. Each member does not give less price to products transiting through the territory of another Member State than the products that would be granted to these products if transported from their place of origin to their destination, without passing through the territory of that other member.

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