Question 83
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?
AOptions
BSolution
Let's analyze the statements regarding the Trade Facilitation Agreement (TFA) of the WTO:
1. India has ratified the Trade Facilitation Agreement (TFA) of WTO. This statement is correct. India formally ratified the WTO's Trade Facilitation Agreement in April 2016, becoming the 76th WTO member to do so.
2. TFA is a part of WTO's Bali Ministerial Package of 2013. This statement is correct. The Trade Facilitation Agreement was indeed concluded at the Ninth WTO Ministerial Conference held in Bali, Indonesia, in December 2013. It was a key outcome of that conference, often referred to as the 'Bali Package'.
3. TFA came into force in January 2016. This statement is incorrect. The Trade Facilitation Agreement officially came into force on 22 February 2017, after the threshold of acceptance by two-thirds of WTO members was reached.
Thus, statements 1 and 2 are correct.
CStrategy
For international agreements, pay attention to the year and location of their adoption/conclusion, the parties involved, and the date they came into force (if specified). Also, note India's involvement – whether it has signed, ratified, or is a party to the agreement. Precision in dates is often tested.
DSyllabus Analysis
This question pertains to the Indian Economy and International Organizations, specifically focusing on India's participation in global trade agreements and the World Trade Organization (WTO).
EQuestion Analysis
Medium. While the Bali Ministerial Package is well-known for TFA, recalling the precise date of its entry into force can be tricky, making it a moderately difficult question.