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DR.
(Professor)
ACKNOWLEDGEMENT
INTRODUCTION
SIGNATURE OF STUDENT:
CERTIFICATE
This is to certify that MR.PANKAJ DAFDA of M.comI(morning) 1st. semester (2015-2016) has successfully
completed the project on CONTETIOUS ISSUE OF
WTO . under the guidance of DR.ANJALI ALEKAR
Project guide:
Internal examiner:
External examiner:
DATE:
PLACE:
DECLARATION
Signature of student
PANKAJ DAFDA
Roll No. 7
CONTENTS
1.
EXECUTIVE
SUMMARY....................................................................................
..........
2.
INTRODUCTION............................................................................
...................
GATT..........................................................................................................................
THE URAUGUAY ROUND....................................................................................
FROM GATT TO WTO............................................................................................
3.
OBJECTIVE...................................................................................
........................
4.
CONTETIOUS ISSUE OF
WTO....................................................................................
AGRICULTURE....................................................................................................
PHARMACEUTICALS.........................................................................................
THE SERVICE SECTOR.......................................................................................
TEXTILES AND CLOTHING.............................................................................
INFORMATION TECHNOLOGY..........................................................................
TRIPS...................................................................................................................
5.
INDIA AND THE
WTO.......................................................................................
INDIAS ROLE IN THE WTO...............................................................................
INDIAS WTO COMMITMENT.................................................................................
6.
COMPARISON OF INDIAS FOREIGN TRADE
BENEFITS.........................................
BEFORE BECOMING THE MEMBER OF WTO........................................................
AFTER BECOMING THE MEMBER OF WTO...........................................................
7.
EXIM
POLICY........................................................................................
............
IMPORT..............................................................................................................
EXPORT..................................................................................................................
8.
CONCLUSION...............................................................................
........................
9.
BIBLIOGRAPHY.............................................................................
........................
EXECUTIVE SUMMARY
INTRODUCTION
2INTRODUCTION
INTRODUCTION
Simply put: The World Trade Organization (WTO) deals with the rules of
trade between nations at a global or near-global level. But there is more to it
than that.
2-1
GATT
2-1.1
OBJECTIVES OF GATT
2-1.2
PRINCIPLES
7
1)
2)
3)
4)
5)
2-2
2002. The WTO members now accounts for over 97 percent of the
international trade.
2-3.1
OBJECTIVES OF WTO
2-3.2
FUNCTIONS OF WTO
administration
and
11
OBJECTIVE
1.
To know about the structure, function and objective of
WTO.
2.
3.
4.
5.
6.
7.
EXIM policy
13
IMPACT
OF WTO ISSUE
ON INDIA
CONTETIOUS
OF WTO
WTO is the institutional platform for the settlement of trade related issues through
discussions and negotiations. Unlike GATT, WTO is both agreement and intuition to
implement trade related rules and regulations The conversion of GATT into WTO with
necessary powers in 1997 was an historical mile stone in the history of global trade. It is
rightly said that GATT with teeth is WTO.. Ever since its inception, WTO could settle large
number of trade related issues. How ever still there are a number of contentious and
disputed issues before the WTO and creating roadblocks. Such issues have become
contentious due to disagreement between members on its interpretation and
implementation. Many WTO members especially developing nations feel that, their voice
and problems in global trade is not addressed properly. Further the WTO members are also
totally divided over some of the issues. Some such serious issuers are
1) Multi fiber agreement: MFA is a major contentious issues at the WTO. During the
Uruguay Round talks, WTO Members signed an Agreement on Textiles and Clothing
popularly known as Multi fiber agreement or ATC. The agreement mandates that WTO
members to implement the ATCs including Minimum Market Access condition over a period
of 10 years, starting from 1995. The Agreement on Textiles and Clothing requires the
progressive elimination of all quantitative restrictions in four stages and give market access to
textiles.
a) Although, MMA conditions have been adopted, many developed countries
still practice quotas, tariffs and NTBs on textiles and clothing of developing
nations.
b) Developing countries also complain that the many developed countries
still do not meet the minimum requirements of the ATC.
3) Labour Standards : This is the most controversial issue before WTO. There is a
growing tendency to link labour standards with global trade. Labour standards are misused
as strong trade barrier.
The Labor standards are those standard to be applied to the way workers are treated. It
covers a wide range of issues, such as Right to Minimum wages ,child labor, forced labor,
and the right to organize trade unions.
WTO does not have any agreements on core labor standards, but follow ILO ( International
Labor organization) standards. The WTO members are deeply divided over launching
negotiations on the above issues.
a) Poor and Developing countries argue , that standards of ILO are distorted
and misused by developed nation as a strong trade barrier.
b) At the same time, MMC and developed nations are against the works right
such as labour union and labour welfare measures , as such measures will
cause hurdle to their investment abroad.
C) Poor countries feels that Some forms of child labor are essential to the
survival of poor families as they depend upon the income generated by every
family member.
d) Trade restrictions cannot be imposed on a product purely because of the
way it has been produced.
e) No country cannot reach out beyond its own territory to impose its
standards on another
f) Many developing countries are not ready of making a legal commitment to
labor standards.
4) Trade and Environment : Like labour standard, WTO does not have any specific
agreement on environment. However the concern for the environment is built into the frame
work of WTO agreements. The WTOs environmental mandate has become the subject of
intense debate due to disagreement about the impact of international trade rules on the
environment.
a) Developing nations very often link trade and environmental issues to
support their trade barriers . They use environmental protection as defense to
support their Non tariff barrier against the imports from developing nations.
b)Developing countries often find it difficult to implement regulations devised
by developed countries because the standards are too strict.
5) Singapore issues : In addition to the above, few more pending issues were raised in
Singapore meet of WTO. They are called Singapore issues The Singapore issue covers
a) Electronic Commerce: This area of trade involves goods and services crossing borders. ,
electronically through the internet. It is very difficult to bring transparency in E- trading.
15
WTO members are silent on the issue and have agreed to continue their
current practice of not imposing customs duties on electronic
commerce.
b)Transparency in Government Purchases: The WTO has an Agreement on Government
Procurement. The agreement covers issues of transparency and non-discrimination.
However the agreement is pluri lateral. Only few members have signed the
agreement so far. Many members feel that it is an attack on the sovereignty of
nation
At present, members are allowed to exempt govt procurement from WTO
market access rules. This state monopoly in trade becomes a de-facto trade
barrier.
6) Need to deal with Quantitative restrictions : How to deal with NTBs such as
voluntary export restraints, social dumping, anti-dumping and countervailing duties etc is
another contentious issue.
a) In spite of WTO agreements many counties still follow such unethical
practices in trade.
7) Need to deal with Regional trade agreements: Another major challenge which
lie ahead for WTO is how to cope up with challenges of regional trade blocks and their
activities that may come in the way of multilateral trade.
Trade blocs in effect, have become a stumbling bloc rather than building bloc
as claimed by supporters of Regional trade blocs. Global trading scenario is
distorted by presence of large number of trade blocs
Thus, WTO is plagued with large number of contentious issues. There is an urgent
need to address the issues and iron out differences. The success and survival of WTO depends
upon how fast we can find solutions to the contentious issues.
16
4-1
AGRICULTURE
17
Parameters
Developed
Developing
Countries
Countries
(including least
Nature
of Commercial/Expor
developed)
Subsistence
26%
27%
foreign exchange
Population engaged 4%
27%
in agriculture
Source:
19
4-2
PHARMACEUTICALS
20
product
patents.
Product
patent
rules
and
Exclusive
21
This
has
forced
nine
leading
domestic
pharma
4-3
22
construction,
computer
software
and
other
professional services.
23
4-4
4-5
INFORMATION TECHNOLOGY
24
4-6
TRIPS (TRADE
PROPERTY RIGHTS)
RELATED
INTELLECTUAL
25
5-1
5-2
Under the Uruguay Round India has bound 67% of all its
tariff lines, whereas prior to that only 6% of tariff lines were
bound. The bindings range from 0 to 300% for agricultural
products from 0 to 40% for other products. Under the Uruguay
Round manufactured products were bound at 25% on
intermediate goods and 40% on finished goods.
5-2.1
Balance of payments
26
5-2.2
AGRICULTURE
5-2.3
TEXTILES
5-2.4
INTELLECTUAL PROPERTY
5-2.5
5-2.6
ANTI-DUMPING
28
5-2.7
SERVICE SECTOR
5-2.8
INFORMATION TECHNOLOGY
5-2.9
31
6
6-1
COMPARISON OF INDIAS
FOREIGN TRADE BENEFITS
Its agreed that India was one of the founder member of WTO;
it faced problems in Foreign Trade grounds. The problems that
India faced before the formation of WTO were the following:
(1)Absence of Anti dumping
(2)No Subsidy Facilities
(3)Absence of TRIMs & TRIPs
(4)Lac of Market Scenario & Strategies
6-2
32
33
EXIM POLICY
71
IMPORT
7-1.1
7-1.2
7-1.3
7-1.4
7-2
EXPORT
35
7-2.1
7-2.2
the items can be freely exported from India. A few items are
subject to export control to prevent their shortage. The profits
from exports are exempted from income tax. Indian exports
contribute nearly 12.4% in the GDP.
36
7-2.3
7-2.4
7-2.5
38
CONCLUSION
BIBLIOGRAPHY
39
(1)
(2)
(3)
(4)
www.wikipedia.org
(5)
www.exprasspharma.com
(6)
www.wto.org
(7)
(8)
(9)
40