WTO & Its Impact on Indian & African Economy

BY Huzefa Kathawala (74) Sarvesh Kulkarni ()

Siddhant Lalwani (80)

Nilesh Khandikar () Apurvalondgekar ()

What is WTO

World Trade Organization Negotiation forum to help free trade between nations Formed out of 1986-94 negotiations the Uruguay Round on 1st January 1995 Current negotiations Doha Development Agenda launched in 2001. Headquarters at Centre William Rappard, Geneva, Switzerland 158 Members Pascal Lamy is the Director General

GATT For goods Most Favoured Nation (MFN) National treatment: Treating Foreigners and locals equally Freer Trade : Gradually through negotiations

GATS For services Modes of supply Cross-border supply Consumption abroad Commercial presence Presence of natural persons

TRIPS For IP Copyright Trademark Geographical Indication Industrial Design Patent for new varities of plant

Predictability : Through binding and transparency Comparative Advantage

WTOs Impact on INDIA

Founder 0.75% Major

member

share

reforms in Agriculture

Favourable impact

Increase in export earnings a) Growth in merchandise exports b) Growth in service exports IT sector Agricultural sector - AGREEMENT ON AGRICULTURE

CONTD
Textiles

and clothing MULTI-FIBRE AGREEMENT Foreign Direct Investment TRIMS AGREEMENT Multi-lateral rules and discipline

Unfavourable impact
TRIPS

standards a)Pharmaceutical sector b)Agricultural sector TRIMS GATS TRADE AND NON TARIFF Barriers LDC exports

WTO In Africa
The

Ministerial Declaration adopted at the start of the Doha Development Round of trade negotiations, on 14 November 2001. failed to deliver the promised prodevelopment changes.

Failures!!
Agriculture

Trade

agreements Medicine Protectionist economic policies Fair trade Decision-making

Disadvantages Of WTO

The WTO is undemocratic The WTO will not make us safer It tramples labor and human rights It would privatize essential services It is destroying the environment It is killing people

 It

is increasing inequality It is increasing hunger It hurts poor , small countries in favor of rich countries It undermines local level decision making and national sovereignty There are alternatives to WTO The tide is turning against free trade and WTO

Conclusion- Agreements
General

Agreement on Tariffs & Trade (GATT) Trade Related Investment Measures (TRIMS) Trade Related Intellectual Property Rights (TRIPS) Agreement on Agriculture (AOA) Agreement on Sanitary and psyto-sanitary measures (SPM) Multi-Fiber Agreement (MFA)

Conclusion- Unresolved Issues

Labor

Standards Trade and Environment Trade and Investment Trade and Competition Transparency in Procurements made by the Government

Conclusion- Indian Context

1.

2.
3. 4.

Indian Agriculture Indian Small Scale Industries Indian Economy Developing Countries