ISAS Insights

The World Trade Organization (WTO) Trade Facilitation Agreement (TFA) entered into force in February 2017 - a reassuring move in improving the flagging state of international trade. As the latest agreement within the Bali Package of the Doha Development Round, the landmark TFA is expected to provide a multitude of benefits relating to the cross-border movement of goods for South Asian WTO members upon full implementation. India has long played an active role within the multilateral trade system, at times being one of the few raising a considered dissenting voice against the consensus during the negotiations. Now, India, along with the rest of South Asia, looks set to benefit tremendously from the TFA, given the mandate outlined in its Foreign Trade Policy (2015-20), its current standing as one of the world's fastest growing economies and its increasing bilateral and multilateral outreach for further global economic integration.