You are on page 1of 2

Question1. What is approximate budget of WTO?

Answer1. 196 million Swiss francs (approx. 209 million US$) in 2011.
Question2. What are the basic functions of WTO?
Answer2. 1. To implement rules and provisions related to trade policy review mechanism.
2. To provide a platform to member countries to decide future strategies related to trade and
3. To provide facilities for implementation, administration and operation of multilateral and
bilateral agreements of the world trade.
4. To administer the rules and processes related to dispute settlement.
5. To ensure the optimum use of world resources.
6. To assist international organizations such as, IMF and IBRD for establishing coherence in
Universal Economic Policy determination.
Question3. What are the major issues covered under DOHA agenda?
Answer3.Agriculture, Access to patented medicines, Special and differential
Question4. Under whom DOHA agenda was organized?
Answer4. director-general Mike Moore
Question5. Major countries which have their governors in AIIB?
Aswer5. Australia, Austria, Brunei Darussalam, Denmark,India,Germany.
Qestion6. The agreement on trade related investment measures (TRIMS) are the rules applied to
which area?

Answer6. The Agreement on Trade-Related Investment Measures (TRIMs) are rules that apply
to the domestic regulations a country applies to foreign investors, often as part of anindustrial
Question7. What is the basic requirement of TRIPS?
Answer7 TRIPS requires member states to provide strong protection for intellectual property
Questions8. What are the basics criticisms faced by TRIPS?
Answer8. TRIPS came into force, it has been subject to criticism from developing
countries, academics, and non-governmental organizations. Though some of this criticism is
against the WTO generally, many advocates of trade liberalisation also regard TRIPS as poor
Question9. What is the trade facilitation agreement involved?
Answer9. (i) conduct a legal review of the Trade Facilitation Agreement
(ii) receive notifications from members on the commitments they can undertake
immediately (Category A commitments )
(iii) draw up a Protocol of Amendment to insert the Agreement into Annex 1A of the WTO

Question10. What is the benifits of trade facilitation agreement?

Answer10. The Trade Facilitation Agreement will be of benefit to all members of the WTO
because the costs of implementing the Agreement are likely to be far less than the expected
benefits from improving the flow of goods across borders. The TFA is expected to reduce total
trade costs by more than 14 per cent for low-income countries, more than 15 per cent for lower
middle-income countries and more than 13 per cent for upper middle-income countries.