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TRIMS (Trade Related Aspects of Investment Measures)

The Uruguay Round took Trade Related Investment Measures in its Final Act. It calls for the

removal of all trade related investment measures within a period of five years (For evelopingcountries!. These measures are confined to "uantitative restrictions and national treatment. In particular# they relate to such measures as investment identified areas# level of foreign investmentfor treating foreign companies at par with national companies# e$port o%ligations# and use oflocal raw materials.

The agreement recogni&es that certain investment measures restrict and distort trade. It#therefore# re"uires mandatory notification of all non 'confirming TRIM and their removalwithin two years for developed countries# within five years for developing countries fordeveloping countries and within seven years for least developed countries.

TRIPS (Trade related Intellectual Property Rights)

The Uruguay Round also contained the agreement on Trade related Intellectual )roperty Rights.It provides norms and standards for copyrights# and related rights# trademarks# geographicalindications# industrial designs# patents# integrated circuits# trade secrets etc. The agreement

allowed * year for developed countries# + years for developing countries and ** years for leastdeveloped countries to change their laws for the implementation of TRI)s. The three ma,or areaswhere it has %een applied are copyright, trademark and patent

!opyright is %asically for the protection of li%rary and artistic work. -omputer programmes areincluded in literary works. Authors of computer programmes# performers on a phonogram#

producers of phonogram (sound recording! and %roadcasting organi&ations are to %e given theright to authori&e or prohi%it the commercial rental of their works to the pu%lic. A similar

e$clusive right applies to the films also. The protection for performers and producers of soundrecording are to %e for no less than + years and for %roadcasting organi&ations for at least /years.

Any sign# or any com%ination of signs# capa%le of distinguishing the goods and services of oneundertaking from those of other undertakings constitute a trade mark . uch signs# in particular


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words including personal names# letters# numerals# figurative elements and com%inations ofcolors as well as com%ination of such are eligi%le for registration as trademarks. The owner of aregistered trade has the e$clusive right to prevent all third parties not having the owners consentfor using a similar sign for goods or services. Initial registration and each renewal of a trademark is for a term no less than seven years. The registration of a trademark is renewa%le indefinitely.

Patents shall %e availa%le for any inventions# whether products or processes# in all fields oftechnology# provided they are new# involve an inventive and are capa%le of industrial application.)atent owners have the right to assign or transfer the patent %y succession. The agreementre"uires / years patent protection.

"ATT ( "eneral Agreement on Tariff and Trade)

The 0eneral Agreement on Tariff and Trade (0ATT! emerged from the 1ashes of 2avana-harter3. After econd 4orld 4ar the Allied )ower thought of having a li%eral world of tradingsystem and for this purpose the International -onference on Trade and 5mployment was held in2avana in the winter of *67897:.Fifty Three nations drew up and signed a charter foresta%lishing an International Trade ;rgani&ation (IT;!.anuary *# *67:.

The 0eneral Agreement on Tariff and Trade (0ATT! was a multilateral treaty signed %y 6?governments known as 1contracting parties3. 0ATT was neither an organi&ation nor a court of

,ustice. It was simply a multilateral treaty which covered : percent of world trade. It was adecision making %ody with a code of rules for the conduct of international trade# and a

mechanism for trade li%erali&ation. It was a forum where 1contracting parties3 met from time totime to discuss and solve their trade pro%lems# also negotiated to enlarge their trade.

The 0att had a permanent international organi&ation having a permanent -ouncil ofRepresentatives with head"uarters at 0eneva. Its function was to call international conferences


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to decide on trade li%erali&ation on a multilateral %asis. ;n >anuary *# *66+# the 0ATTdisappeared and passed into history when it was merged in the 4orld Trade ;rgani&ation.

#$%ectives of "ATT& '

The o%,ectives of 0ATT were %ased on a few fundamental principles contained in the -ode ofInternational Trade -onduct

To follow unconditional Most favored @ation (MF@! principleTo carry on trade on the principle of non9discrimination# reciprocity and transparencyTo grant protection to domestic industry through tariffs onlyTo li%erali&e tariff and non9tariff measures through multilateral negotiations

To achieve those o%,ectives# the Agreement provided for (a! multilateral trade negotiations# (%!consultation# conciliation and settlement of disputes# and (c! waivers to %e granted in e$ceptionalcases.

The ultimate aim of esta%lishing li%eral world trading system was to raise living standard# ensurefull employment though a steadily growing effective demand and real income# develop fully theresources of the world and e$pand the production and e$change of goods on glo%al level.

orld Trade #rgani ation ( T#)


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#rigin& The Uruguay Round of 0ATT negotiations concluded on April *+# *667 at Marrakesh#Morocco. India# along with */= ministers %esides the 5- -ountries signed the final Actincorporating the 5ighth Round multilateral trade negotiations. The final act consists of (i! the4T; agreement which covers the formation of the organi&ation and the rules governing itsworkingB (ii! the Ministerial decisions and declarations which contain the important agreementscovering trade in goods# services# intellectual property etc. They also contain the disputesettlement rules and trade policy review system. The 4T; Agreement is in fact the UruguayRound agreements where%y the original 0ATT is now a part of the 4T; agreement which cameinto force from >anuary *# *66+.

4T; 2as legal status and en,oys privileges and immunities on the same footing as the IMF andthe 4orld

#$%ectives of T#& In its pream%le# the agreement esta%lishing the 4T; lays down thefollowing o%,ectives of the 4T;

Its relations in the fields of trade and economic endeavor shall %e conducted with a viewto raising standards of living# ensuring full employment and large and steadily growingvolume of real income and effective demand and e$panding the production and trade ingoods and services.To allow for the optimal use of the worldCs resources in accordance with the o%,ectives of sustaina%le development# seeking %oth (a! to protect and preserve the environment# (%! toenhance the means for doing so in a manner consistent with respective needs andconcerns at different levels of economic development.


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To make positive efforts designed to ensure that developing countries# especially the leastdeveloped among them# secure a share in the growth in international trade commensuratewith the needs of their economic developmentTo achieve those o%,ectives %y entering into reciprocal and mutually advantageousarrangements directed towards su%stantial reduction of tariffs and other %arriers to trade

and the elimination of discriminatory treatment in international trade relations.To develop an integrated# more via%le and dura%le multilateral trading systemencompassing the 0ATT# the results of past li%erali&ation efforts# and all the results of theUruguay Round of multilateral trade negotiations.To ensure linkages %etween trade policies# environmental policies and sustaina%ledevelopment.

Functions of 4T; The following are the functions of 4T;

It facilitates the implementation# administration and operation of the o%,ectives of theAgreement and the Multilateral trade Agreements.It provides the framework for the implementation# administration and operation of the)lulateral Trade Agreements relating to trade in civil aircraft# government procurement#trade in dairy products and %ovine meat.It provides the forum for negotiations among its mem%ers concerning their multilateraltrade relations in matters relating to the agreements and framework for theimplementation of the results of such negotiations# as decided %y the Ministerial-onference.It administers the Understanding on Rules and )rocedures governing settlement of

isputes of the agreementIt cooperates with the IMF and the 4orld


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abandon the gold standard This led to the ado!tion of !urely nationalistic!olicies "hereby almost e#ery country im!osed trade restrictions,e)change controls and resorted to e)change de!reciation in order toencourage its e)!orts This further brought a mar$ed decline in "orldtrade and e)tension of de!ression It "as against this bac$ground that 44nations assembled at the *nited +ations Monetary and Financial

onference at Bretton Woods, +e" -am!shire .*/A0 from July 1 to July %%,1944 Thus the IMF "as established to !romote economic and nancialcoo!eration among its members in order to facilitate the e)!ansion andbalanced gro"th of "orld trade Its started functioning from March 1,1942

Objective of the Fund:

1 To !romote international monetary coo!eration through a !ermanentinstitution "hich !ro#ides the machinery for consum!tion andcollaboration in international monetary !roblems

% To facilitate the e)!ansion and balanced gro"th of international tradeand to contribute thereby to the !romotion and maintenance of highle#els of em!loyment and real income and to the de#elo!ment of the!roducti#e resources of all members as !rimary ob3ecti#e of economic!olicy

' To !romote e)change stability, to maintain orderly e)changearrangements among members, and to a#oid com!etiti#e e)change

de!reciation4 To assist in the establishment of a multilateral system of !ayments in

res!ect of current transactions bet"een member and the elimination of foreign e)change restrictions "hich ham!er the gro"th in the "orldtradeTo lend con dence to members by ma$ing the Fund5s resourcesa#ailable to them under ade6uate safeguards, thus !ro#iding them"ith o!!ortunity to correct malad3ustments in their balance of!ayments "ithout resorting to measures destructi#e of national orinternational !ros!erity

7 In accordance "ith the abo#e, to shorten the duration and lessen thedegree of dise6uilibrium in the international balance of !ayments ofmembers

Functions of the Fund


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To ful ll the abo#e ob3ecti#es, the IMF !erforms the follo"ing functions8

1 The IMF o!erates in such a "ay as to ful ll its ob3ecti#e as laid do"n inthe Bretton Woods Articles of agreement s It is Fund5s duty to see thatthese !ro#isions are obser#ed by member countries /ome of the

!ro#isions of the original Articles such as relating to e)change ratesha#e become obsolete due to international monetary e#entsAccordingly the Fund has amended its article of Agreement to ma$ea!!ro!riate ad3ustments

% The fund gi#es short term loans to its members so that they maycorrect their tem!orary balance of !ayments dise6uilibrium

' The Fund is regarded as the guardian of good conduct: in the s!hereof balance of !ayments It aims at reducing tari;s and other traderestrictions by the member countries Without the a!!ro#al of theFund, no members can im!ose restrictions on the ma$ing of !aymentsor engage in discriminatory currency arrangements or multi!le

currency !ractices It is the functions of the Fund to ha#e a sur#eillanceof the !olicies being ado!ted by the member countries4 The fund also renders technical ad#ice to its members on monetary

and scal !oliciesIt conducts research studies and !ublishes them in IMF sta; !a!ers,Finance and (e#elo!ment, etc

7 It !ro#ides technical e)!erts to member countries ha#ing Bculties and other !roblems

2 It also conducts short training courses on scal, monetary and balanceof !ayments for !ersonnel from member nations through its entralBan$ing /er#ice (e#elo!ment, the Fiscal A;airs (e!artment, the

Bureau of /tatistics and the IMF Institute Thus, the Fund !erforms nancial, su!er#isory and controllingfunctions

orld *ank (I*R+)

The 4orld


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I


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• To ensure the availa%ility of the funds to the


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institution related# such as diagnostic policy and institutional studies# managementsupport and training.

The primary way of providing technical assistance is through loans made for specificsectors and in components of loans made for capital infrastructures. uch technical assistanceincludes funds for supervision# implementation and engineering services# energy# power#

transportation# water supply# industry# etc.

• Inter'organi ational cooperation The I


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countries??that nd themsel#esin tem!orary balance of!ayments di>culties by!ro#iding short? to medium?term

credits• su!!lements the currency

reser#es of its members throughthe allocation of /( s .s!ecialdra"ing rights0 to date /(%1 4 billion has been issued tomember countries in !ro!ortionto their 6uotas

• dra"s its nancial resources!rinci!ally from the 6uotasubscri!tions of its membercountries

• has at its dis!osal fully !aid?in 6uotas no" totaling /( 14billion .about C%1 billion0

• has a sta; of %,'&& dra"nfrom 1D% member countries

• !ro#ides to the !oorestde#elo!ing countries "hose !erca!ita E+= is less than CD7 ayear s!ecial nancial assistance

through the International(e#elo!ment Association .I(A0

• encourages !ri#ateenter!rises in de#elo!ingcountries through its a>liate,the International Finance

or!oration .IF 0

• ac6uires most of its nancialresources by borro"ing on theinternational bond mar$et

• has an authori ed ca!ital ofC1D4 billion, of "hich members!ay in about 1& !ercent

• has a sta; of 2,&&& dra"nfrom 1D& member countries

!""#$

The /outh Asian Association for egional oo!eration ./AA 0 com!risesof Afganistan, Bangladesh, Bhutan, India, The Maldi#es, +e!al, =a$istanand /rilan$a The basic aim of the organi ation is to accelerating the!rocess of economic and social de#elo!ment in Member /tates through

3oint action in the agreed areas of coo!eration The idea of regional


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coo!eration "as rst mooted in +o#ember 19D& After consultations, theForeign /ecretaries of the se#en countries set for the rst time in olomboin A!ril 19D1 The Foreign Ministers, at their rst meeting in +e" (elhi inAugust 19D', ado!ted the (eclaration on /AA The /AA /ecretariat"as established in Gathmandu on 17 January 19D2 and "as inauguratedby Hate Ging Birendra Bir Bi$ram /hah of +e!al Afghanistan "as the rstto ha#e been accessed in the !hysical enlargement of the /AA in %&&2

Objectives:

• To !romote the "elfare of the !eo!le of /outh Asia and to im!ro#etheir 6uality of life

• To accelerate economic gro"th, social !rogress and culturalde#elo!ment in the region and to !ro#ide all indi#iduals theo!!ortunity to li#e in dignity and to reali e their full !otential

• To !romote and strengthen collecti#e self reliance among the membercountries

• To contribute to mutual trust, understanding and a!!reciation of oneanother5s !roblem

• To !romote acti#e collaboration and mutual assistance in theeconomic, social, cultural, technical and scienti c elds

• To strengthen coo!eration "ith other de#elo!ing countries• To strengthen coo!eration among themsel#es in international forums

on matters of common interest
http://en.wikipedia.org/wiki/Birendra_of_Nepalhttp://en.wikipedia.org/wiki/Birendra_of_Nepal

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