Topic : Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
5) Despite issues concerning convergence, the WTO needs to be sustained as an international platform to formulate trade rules and bring convergence on divergent matters. Comment.(250 words)
Why this question:
India is to host the second mini-ministerial meet of the World Trade Organization (WTO), on May 13-14, 2019. The article is in the backdrop of interests of developing and least developed countries in global trade.
Key demand of the question:
One is expected to analyse in detail the issues of convergence at the WTO between the developed and the developing countries. And what needs to be done to overcome it.
Comment– here we have to express our knowledge and understanding of the issue and form an overall opinion thereupon.
Structure of the answer:
In a few introductory lines explain the background of the context of the question.
In brief discuss –
- Discuss the issues concerning WTO ? – investment facilitation, rules for e-commerce, gender equality and subsidy on fisheries etc.
- Explain why is there a deadlock between group of countries at the WTO?
- Discuss the need for negotiating these issues in a convergent manner.
- Take hints from the article and form a balanced opinion on the issue.
Conclude that the WTO needs to be sustained as countries need an international platform to formulate trade rules and bring convergence on divergent matters.