WTO's trade facilitation pact to reduce cost, boost industry

The trade facilitation, which was agreed by the World Trade Organisation (WTO) members after four days of hectic negotiations, will help developing countries including India to reduce transaction cost and improve competitiveness of domestic industry. "India has been a strong proponent by and large on the issue. India has already taken many steps to streamline customs procedures," Commerce and Industry Minister Anand Sharma said.

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