NTFAP to improve ease of doing business
Q. What does NTFAP stand for in the context of trade?- Published on 24 Jul 17a. National Trade Facilitation Action Programme
b. National Trading Facilitation Action Programme
c. National Trade Facilitation Action Plan
d. National Trading Facilitation Action Plan
ANSWER: National Trade Facilitation Action Plan
National Trade Facilitation Action Plan (NTFAP) aims to align border procedures with international best practices and improve Ease of Doing Business.
It would not only ensure compliance with the Trade Facilitation Agreement (TFA) but would also give impetus to trade facilitation.
Action Plan gives a time bound map, not only for implementing TFA, but also for India’s initiatives for trade facilitation and Ease of doing Business which goes beyond TFA.
The Action Plan was released by the Finance Minister Shri Jaitley on 21st July 2017.
WCO appreciated the various initiatives taken by the Indian Customs to facilitate trade particularly the release of the National Trade Facilitation Action Plan (NTFAP).
While praising the massive reforms undertaken by the present Government in the Indian Taxation System including implementation of GST, WCO indicated that the efforts made with regard to outreach and capacity building before implementation of GST in India can be emulated by many other countries.
WCO is working with G-20 on illicit financial flows.
