The ‘border haats’ between India and Myanmar are functioning “very well” and the government is looking at opening more such facilities on borders, Central Board of Excise and Customs (CBEC) Chairman Najib Shah said today.
India by virtue of its geographical location has many neighbouring countries and this “informal trade” with Myanmar is “functioning very well”, he said.
Such system of trade is restricted to bordering districts of Myanmar and India in the North-East.
“It is restricted to certain value limits. It is restricted to local produce in those areas because we do not want other trades to get in. We are looking at such informal trade also with other border areas. But nothing has been firmed up as of now,” he said here at a function.
About the implementation of the WTO’s trade facilitation agreement (TFA) in goods, Shah said India is largely compliant with the provisions of this global pact.
Asked about the investment required for the full implementation of the pact, he said: “I do not think that it is too daunting for us to ensure we implement the TFA in both letter and spirit.”
Shah also said changes in certain laws are required for the pact which the government will do within a stipulated window.
The WTO’s trade facilitation pact will help promote global trade in several ways such as facilitating movement of goods and effective functioning of ports.
The agreement, which seeks to ease Customs norms, came into effect last month with two-thirds of WTO members ratifying the pact.
India will fund all its projects like upgradation and digitisation of infrastructure for implementation of the trade facilitation pact.