Agreement Of Wto Harm Developing Countries Like India

Article 15 of the agreement provides that special attention will be given to members of developed countries when considering the application of anti-dumping measures under that agreement, including the consideration of the possibilities for constructive corrective measures provided by the agreement, to the particular situation of members of developing countries. However, this provision has rarely been applied in practice. The impasse at the 11th Ministerial Conference of the World Trade Organization (WTO) in Buenos Aires recently raises doubts about the future of developing countries` food supply programmes. In the absence of a definition of how this consideration should be taken into account, these provisions have rarely taken effect. An analysis of India`s foreign trade shows that the 16 countries/territories, which target four-fifths of our exports, retain eight broad categories of non-tariff barriers that limit our market access. These are (i) restrictive import policy regimes (import duties other than tariffs, quantitative restrictions, import certificates, tariff barriers); (ii) standards, tests, markings and certifications (including plant health standards) that are unrealistic or not scientifically unjustified for developing countries; (iii) export subsidies (including agricultural export subsidies, preferential export financing conditions, etc.); (iv) barriers to services (visible and invisible barriers that limit the movement of service providers, etc.); v) lack of intellectual property protection; (vi) public procurement rules; (vii) barriers to investment; (viii) other obstacles (including anti-dumping and countervailing measures). The services sector accounts for about 40% of India`s GDP, 25% of employment and 30% of exports. Given the importance of the services sector for stronger economic growth, the government places additional emphasis on improving services such as telecommunications, navigation, roads, ports and air transportation. The foreign direct investment system has been liberalized to attract foreign investment in the services sector. However, a gradual liberalisation path has been adopted to ensure greater acceptance of the reform process. India has been actively involved in the uruguay Round services negotiations and has engaged in 33 activities, compared to an average of 23 developing countries. India was also involved in the negotiations. With regard to basic telecommunications services, India has made commitments for voice services on local and long-distance lines (within the watershed), mobile phone services and other services such as electricity transmission sources for circuits, fax services, private line rental services, in accordance with the information contained in the commitment plan.

India has also participated in the recent financial services negotiations and has improved its offer by increasing the annual cap for foreign banking agencies from 8 to 12 and removing exemptions from India`s MFN for banking services. India said on Monday that the collapse of the appeal body of the WTO dispute settlement system and the reform agenda implemented by some developed economies could harm the interests of developing countries.

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