***Let's Go To On-site(Canada) From Infosys***
***Let's Go To On-site(Canada) From Infosys***
India ratified Trade Facilitation agreement(TFA) for Goods of WTO in 2017. TFA for Goods helps in increasing global trade in goods(not services) by easing customs procedures.
**But Indian economy is a service economy. We are a huge exporter of services i.e. software. China's economy is manufacturing driven. So TFA-Goods benefits China more than India. Hence India is pressing for a similar agreement for services i.e. visa norms for high skilled Indian IT professionals will be easy.
**So we have learnt about GATT agreement & its successor WTO(Marrakesh Agreement),Special Safeguarding Mechanism(SSM),TRIPS Agreement,TFA for goods & India's push for TFA in Services,Doha Development Round(the ongoing consultative round) and that this consultation is shelved due to never-ending differences between countries,MFN status,National Treatment,how consensus based decision making plagued its functioning. We will discuss more later.
***Homework: Is WTO a Bretton Woods Conference Institution?
(TO BE CONTINUED.Lots of things to say.)
By,Hemen Sarma
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