Trade Facilitation Agreement (TFA)

1) Trade Facilitation Agreement (TFA) has been recently in news . This agreement is related to which of the following organizations?

a) World Trade Organization
b) International Monetary Fund
c) World Bank
d) None of the above

2) In which of the following areas, the Trade Facilitation Agreement has been ratified at the global level?

a) Goods
b) Services
c) Investments
d) Both a and b

3) Which of the following statements is correct with respect to country specific proposals on Trade Facilitation Agreement?

a) The objective of proposed TFA in service by India is to ease flow of global service trade including temporary movement of skilled white collard professionals.
b) China has proposed TFA in investments at the WTO level.
c) Both a and b
d) Neither a nor b

Answers:

1) a
2) a
3) c

Note : According to WTO: The TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.  The Agreement will help improve transparency, increase possibilities to participate in global value chains, and reduce the scope for corruption.

Current Affairs Today : India and the World

1) Which of the following statements is correct with respect to 'open skies' policy?

a) Under this there are no restrictions on flights or seats or routes from a particular country.
b) India has 'open skies' policy for the United States.
c) Both a and b
d) Neither a nor b

2) According the RBI Governor which of the following factors poses a significant challenge to sustaining India's economic momentum?

a) Contracting industrial activity and exports in United States.
b) Deflationary pressures in Japan.
c) Slowdown in China.
d) All of the above.

3) Which of the following statements is correct with respect to the ‘Afghan-India Friendship Dam’ or Salma Dam, which was recently inaugurated in Herat province of Afghanistan ?

a) It is a landmark infrastructure project undertaken by Government of India on river Hari Rud.
b) The project was executed and implemented by WAPCOS Ltd., a GoI Undertaking under Ministry of Water Resources, River Development and Ganga Rejuvenation .
c) Both a and b
d) Neither a nor b

4) Which of the following statements is correct with respect to India's oil consumption in 2015?

a) India is third largest oil consumer in the world after U.S. and Japan.
b) India has demand of 4.1 million barrels a day.
c) India accounts for 4.5% of world oil consumption.
d) All of the above

Answers

1) c
2) d
3) c , Reference : PIB Link
4) d, BP Statistical Review of World Energy,2015