world_organizations medium True/False

The WTO's Trade Facilitation Agreement (TFA), which entered into force in 2017, aims to expedite the movement, release, and clearance of goods across borders by simplifying customs procedures.

  1. True
  2. False

Answer: True

The TFA is the first multilateral agreement concluded under the WTO. It requires members to publish trade regulations, establish inquiry points, simplify documentation, and cooperate on customs matters, reducing trade costs and boosting participation of SMEs and developing countries in global trade.

Topic World Trade Organization
Exam Relevance UPSC, Banking, SSC
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