Page 399 - SSB Interview: The Complete Guide, Second Edition

subsidies will lead to an increase in commodities prices worldwide in
the long run, thus making farm products of poor countries more

competitive.

However, what the developing countries have achieved out of these

negotiations are known as “Two Windows”. One deals with “Special
Products” and the other is for “Special Safeguards Mechanism”.

These windows have been allowed to prevent any rich country from
dumping its surplus farm products. Also, under the arrangements, India will
have the freedom to decide the products that can be put in these windows and

prevent “unfair dumping”.

The WTO is facing problems because there is a big gap between developed
and developing countries. The first problem is the disparity in agriculture

subsidies and labour standards. The second problem is Intellectual Property
Rights and the third problem area is Environmental Pollution. Viewpoints
were different from the developed and developing countries, but the gap will

be narrowing with the passage of time.

Following are the implications for our country:

Positive

Transfer of technology from developed country becomes easier.

Due to opening of the country’s economy, the global economy will

improve.

Employment increases.

Negative

Price of life-saving drugs will increase.

Indian industries will be dominated by advanced countries.

There is discrimination regarding registration of some of the products

under intellectual property rights (patents).

INTERNATIONAL ATOMIC ENERGY AGENCY