India may have more 'border haats' for boosting trading ties : CBEC Chief Najib Shah

Posted by Daily Shipping Times on 10-03-2017        Tweet

NEW DELHI: 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 recently.

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.

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.