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July 1995 The author examines the impact of the Uruguay Round on four South Asian countries with similar trade structures: Bangladesh, India, Pakistan, and Sri Lanka. These countries are major exporters of textiles and clothing and some agriculture. Their manufacturing sectors - especially textiles and clothing - would seem to be the main beneficiaries of the Round. The impact on agriculture should be modest. The Round improves market security for both exporters and importers, but these countries must do much more to adjust their domestic policies to the realities of the post-Round global environment. There must be further liberalization and more integration with both the region and the world. The trade regimes of the four countries are a mixed bag. All have launched major trade reform away from an inward orientation. They have liberalized trade by removing quantitative restrictions and reducing tariffs, but the degree of liberalization varies. India has done a lot to open up its economy but has not moved forcefully enough to remove restrictions on most imports of consumer goods. Pakistan retains heavy restrictions on many imports but is reducing tariff rates and their dispersion. Quantitative restrictions on imported inputs impede efficiency in Bangladesh textile and pharmaceutical industries. Sri Lanka's trade regime is the most liberal in the region, but anomalies still exist in incentives. Binding tariffs in the four countries must be greatly reduced before these countries can benefit from the Round's disciplines in agriculture. The dismantling of the Multifiber Agreement will increase South Asia's output of textiles by 17 percent, and their exports of textiles by 26 percent. Output on clothing will increase ninefold, and exports more than twentyfold. The region may also benefit from the more liberalized post-Round markets for semi-manufacturing exports. In general, negotiations about new issues - trade in services, trade-related aspects of intellectual property rights, and trade-related investment measures - will affect South Asia in different ways. The impact on the movement of labor, in which the region has a comparative advantage, seems to be more effective than in other areas. More disciplined rules to protect intellectual property rights and more transparency about investment and competition policies will benefit the region in the longer run.
The author examines the impact of the Uruguay Round on four South Asian countries with similar trade structures: Bangladesh, India, Pakistan, and Sri Lanka. These countries are major exporters of textiles and clothing and some agriculture. Their manufacturing sectors - especially textiles and clothing - would seem to be the main beneficiaries of the Round. The impact on agriculture should be modest. The Round improves market security for both exporters and importers, but these countries must do much more to adjust their domestic policies to the realities of the post-Round global environment. There must be further liberalization and more integration with both the region and the world. The trade regimes of the four countries are a mixed bag. All have launched major trade reform away from an inward orientation. They have liberalized trade by removing quantitative restrictions and reducing tariffs, but the degree of liberalization varies. India has done a lot to open up its economy but has not moved forcefully enough to remove restrictions on most imports of consumer goods. Pakistan retains heavy restrictions on many imports but is reducing tariff rates and their dispersion. Quantitative restrictions on imported inputs impede efficiency in Bangladesh textile and pharmaceutical industries. Sri Lanka's trade regime is the most liberal in the region, but anomalies still exist in incentives. Binding tariffs in the four countries must be greatly reduced before these countries can benefit from the Round's disciplines in agriculture. The dismantling of the Multifiber Agreement will increase South Asia's output of textiles by 17 percent, and their exports of textiles by 26 percent. Output on clothing will increase ninefold, and exports more than twentyfold. The region may also benefit from the more liberalized post-Round markets for semi-manufacturing exports. In general, negotiations about new issues - trade in services, trade-related aspects of intellectual property rights, and trade-related investment measures - will affect South Asia in different ways. The impact on the movement of labor, in which the region has a comparative advantage, seems to be more effective than in other areas. More disciplined rules to protect intellectual property rights and more transparency about investment and competition policies will benefit the region in the longer run.
Wto Is Seen Largely As A Symbol Of North-South Conflict, Due To Divergent Perceptions Of The Developed And Developing Countries On The Multilateral Trading System. This North-South Divide Is Reflected In Their Ministerial Negotiations Where The Rich Countries Try To Impinge Their Ultimate Authority Over The Global Economy Leaving Thus Limited Options To The Poor Countries To Defend Their Economic Space, Notwithstanding The Fact That The Developing Countries Account For Nearly 80 Percent Of Wto Membership. There Is Now A Growing Concern Among The South Asian Countries, Including The Four Least-Developed Countries On The Restrictions Imposed By The Developed Countries In The Form Of New Clauses In The Wto Framework. The Initiation Of Liberalization In These Countries In The Early 1990S Did Not Improve The Trade Prospects Significantly. South Asian Countries In General And India In Particular Is Now Taking Keen Interest In Cooperating With The Fellow Developing Countries And Championing Their Cause At The International Fora. This Volume Attempts To Examine The Different Facets Of Implications Of Wto On South Asia, Viz., Trade Cooperation For Development And Poverty Alleviation; Agriculture; Singapore Issues; Health And Intellectual Property Rights; And China S Accession Into Wto And Other Related Issues. It Emphasizes The Stand Of South Asian Countries To Safeguard Their Trade Prospects By Protecting From The Restrictions, Imposed By The Developed Countries In Several Clauses Under Different Agreements Of Wto. It Is Hoped That This Volume Will Become An Important Addition To The Existing Literature On Wto, As It Covers The Adverse Affect Of Wto On South Asia Which Has So Far Not Been Analyzed Exhaustively.
International experts from law, economics and political science provide in-depth analysis of international trade issues. Attorneys, economists and political scientists adopt a common viewpoint, entitled 'transcending the ostensible'. This approach directs particular attention to the possibility that WTO legal institutions, like other international legal institutions, will function in unexpected ways due to the political and economic conditions of the international environment in which they have been created, and in which they operate. A range of trade problems are considered here. Topics include the constitutional dimensions of international trade law, adding subjects and restructuring existing subjects to international trade law, the legal relations between developed and developing countries, and the operation of the WTO dispute settlement procedure. This will be an essential volume for professionals and academics involved with international trade policy.