Q. World trade organisation (WTO) as a multilateral body is facing challenges on various counts. In this light discuss the relevance of WTO and also suggest suitable reform in its functioning.

Structure of the answer: Introduction (about WTO) Challenges faced by WTO Relevance of WTO Reform in functioning of WTO Model Answer WTO was set up under Marrakesh Treaty (1994) and as an organization aim to improve living standards, generate employment, and expand global trade. However, in recent years WTO is facing challenges on various counts such as: ConsensusContinue reading “Q. World trade organisation (WTO) as a multilateral body is facing challenges on various counts. In this light discuss the relevance of WTO and also suggest suitable reform in its functioning.”

Everything about TFA, GATS and  WTO Ministerial Conference

The Ministerial Conference is the highest decision-making body of the WTO and meets at least once every two years. Main points of discussion in MC11 Service negotiation under GATS will be on priority: Domestic regulation: to address the contentious issue of professional visa fee hikes by the likes of the US and UK, which India hasContinue reading “Everything about TFA, GATS and  WTO Ministerial Conference”

Most Favoured Nation (MFN) status

What is Most Favoured Nation’ (MFN) status?  The WTO as the trade-promoting body has certain key principles or philosophical themes for its working. One such principle is non-discrimination which is well scripted in Most Favored Nation (MFN) treatment. The MFN is a status or treatment given by one country to another in trade matters. ItContinue reading “Most Favoured Nation (MFN) status”

WTO- Trade Facilitation Agreement (TFA)

Trade Facilitation Agreement (TFA) Trade Facilitation Agreement (TFA) envisages faster clearances and reduction of red tapism at the borders and would thereby help in the ease of doing business. TFA is bound to change the Indian trade and would bring more transparency in trade process. after TFA ratification, the world wide best trade practices wouldContinue reading “WTO- Trade Facilitation Agreement (TFA)”