countries are emphasizing to promote a fair order regarding agricultural policies. . It performs a commendable contribution for assisting developing countries in gaining in areas such as an advantage in trade and climate change negotiations. .
It disseminates information and exchange platform beyond economic cooperation. - - International Economic Organisations Also, the various agreements implemented by the WTO such as TRIPS, TRIMS, GATS, AoA, MFA have been discussed. The final part of the chapter deals with the regional economic integration among the trade blocks such as SAARC (South Asian nations), ASEAN (South East Asia) and BRICS and their achievements. Glossary Structural Adjustment Facility: Providing additional balance of payments assistance on concessional terms to the poorer member nations to undertake strong macroeconomic and structural programmes.
Special Drawing Rights: International monetary reserve currency created by the International Monetary Fund (IMF) that operates as a supplement to the existing money reserves of member countries. Trade Related Intellectual Property Rights (TRIPs): TRIPs include copy right, trade mark, patents, geographical indications, industrial designs and invention of microbial plants. Trade Related Investment Rights (TRIMs): TRIMs are related to conditions or restrictions imposed in respect of foreign investment in the country. Multilateral trade agreement: It is a multi national legal or trade agreement between countries.
It is an agreement between more than two countries but not many. Trade blocks: They are a set of countries which engage in international trade together and are usually related through a free trade agreement or other associations. Free Trade Area: A region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers.
Customs Union: Free trade area (zero tariffs among members) with a common external tariff. Common Market: A group formed by countries within a geographical area to promote duty free trade and free movement of labour and capital among its members. Economic Union: It is composed of a common market with