Question

what are its limitations of wto

Answer 1

Answer:

world trade organization

2005 established

Answer 2

Explanation:

i. The trade reform process is incomplete in many countries. For instance, some high tariff still remain on which negotiations are still proceeding at various levels, notably in the areas of basic telecommunications and financial services;

ADVERTISEMENTS:

ii. There appears to have been at least some reversals in the overall liberalisation process in some developing countries. Examples are of increasing anti-dumping measures, selective tariff increases and investment related measures;

iii. The WTO has also not been sensitive enough to the development of non-tariff barriers to imports from the UDCs, such as anti­dumping duties;

iv. The interests of international trade, which are primarily the interests of transnational corporations, take precedence over local concerns and policies even if such a course exposes the local population to serious health and security risks;

v. The implementation-related issues are becoming a source of serious concern: These issues cover a whole range of demand to correct while asymmetries in TRIPS, TRIMS, anti-dumping, movement of people, etc. remain. Other issues requiring WTO attention relate to agriculture, textiles, industrial tariffs including peak tariffs, and services;

ADVERTISEMENTS:

vi. The policies and rules appropriate or advantageous to the industrialised world are getting established as common rules to be obeyed by the developing world as well. As a result, ‘one size fits air approach is increasingly getting embedded in the WTO rules and disciplines;

vii. The major share of the benefits of the WTO has gone to the countries of the North. Whereas the benefits of free trade accrue primarily to the UDCs, progress has been much slower;

viii. Concerns has been raised that the combination of globalisation and technological change creates a premium on high-skill as against low-skill with growing social divisions.