•   Trade Facilitation Agreement (TFA) - Trade Facilitation Agreement (TFA) is a WTO based multilateral agreement. It’s primary objective is to simplification, modernization and harmonization of export and import processes across the participating countries.

o  The TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit.

o  It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues.

•   India ratified the Trade Facilitation Agreement (TFA) of the World Trade Agreement (WTO) on April 22, 2016. Statement 1 is correct.

•   WTO members officially agreed to start negotiations on trade facilitation in 2004. The draft of Trade Facilitation Agreement (TFA) is finalized at 9th WTO Ministerial Conference which held at Bali in 2013.Statement 1 is correct.

•   WTO members concluded negotiations at the 2013 Bali Ministerial Conference and it entered into force on 22 February 2017 following its ratification by two-thirds of the WTO membership. Statement 3 is incorrect.