WTO

This paper discusses, from a developing country perspective, issues concerning the ongoing review of the Agreement on Trade Related Investment Measures and the move of the industrialised countries to bring the investment issue on the WTO agenda. Bringing an agreement on investment, beyond TRIMs, on the WTO agenda will not be in the interests of the developing countries. A strategy is, therefore, suggested for India and other developing countries to adopt on this issue at the Ministerial Meeting at Doha in November.

There is broad consensus that TRIPS in its present form is unacceptable because it violates the fundamental rights of people. Civil society organisations across the world are mobilising opinion to intervene in the TRIPS review process. What are the changes must be negotiated during the current review of TRIPS?

The paranoia in some quarters over the ending of quantitative import restrictions will be proved unfounded and will die down. There will be some difficulties initially, particularly because domestic producers have been protected for so long. In the longer run competition from producers elsewhere will be beneficial for the domestic economy. This will, however, require policy-makers and other economic agents to give up their defensive attitudes and approach positively the tasks of becoming globally competitive.