Book:World Trade Organisation and the Developing Countries

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Bibliographical Data

Title:World Trade Organisation and the Developing Countries
Author:M. Lakshmi Narasaiah
Subjects:Business, Economics, Sociology
Key words:9788171415854, 8171415857, World Trade Organisation
Education Level:Higher Education
License:Other
Description:The special status of developing Countries in the Gatt will continue to receive recognition in the WTO. The preamble of the Agreement Establishing the Wto states that "there is a need for Positive efforts designed to ensure that developing countries, and especially the least developed among them, secure a share in the growth of international trade commensurate with the needs of their economic development". In addition to retaining the provisions that concerned developing countries in GATT 1947, the new agreement generally contain provisions for developing countries and least-developed countries, often consisting of longer Transition periods for the full implementation of some obligations and various exemptions from obligations, particularly for the latter group of countries. Also, in some instances, the exports of developing countries benefit from a better treatment with respect to Measures taken by other WTO Members. Technical assistance is to be provided. to developing countries to assist them in assuming their obligations and more effectively realizing the benefits of the multilateral Trading system.

Least-developed countries are singled out in the Final Act as requiring special attention. This is reflected in the agreements through a number of provisions, which provide the most favorable treatment for this group in terms of rights as well as lower levels of obligations. In addition, the Decision on Measures in Favour of Least-Developed Countries makes provision for measures of special assistance, including technical assistance "in the development, strengthening and diversification of their production and export Bases including those of services, as well as in trade promotion, to enable them to maximize the benefits from liberalized access to markets". As part of its functions, the Committee on Trade and Development (a subsidiary Body of the General Council) will periodically review the special provisions in favour of least-developed countries and report to the General Council of the WTO for appropriate action.

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