I (Meaning and importance of Exports) Unit Structure

4. Agreement on Agriculture- 
The agreement on agriculture was signed. The main 
objectives to increase market access to agriculture items in 
member nations. The member nations have to change or remove 
their non-tariff barriers like quotas on agriculture items. 
5. TRIMs- 
At the Uruguay round, the TRIMs agreement was signed. 
The TRIMs agreement introduces a number of measures by 
member countries to treat foreign investments on par with domestic 
investments and also removal of QRs on imports. Certain 
measures that discriminate against foreign investments were to be 
withdrawn by member nations, such as dividend balancing 
requirements. 

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6. Agreement on Textiles and Clothing- 
The MFA (Multi-Fiber agreement) was in force since 1973. 
Under MFA the developed countries (France, USA, Canada, Japan 
England etc.) that were importing textiles and clothing from 
developing nations were imposing quotas. At the Uruguay round, it 
was decided to withdraw MFA within a period of 10 years (by 01-
01-2005). MFA has been withdrawn, which would benefit the textile 
exporting counties including India.
3.8 OBJECTIVES OF WTO 
WTO desires to achieve the objectives as decided by GATT. These 
are as follow- 
1. Free trade i.e. trade without discrimination 
2. Growth of less developed countries. 
3. Protection and preservation of environment. 
4. Optimum utilization of 
available world‟s resources. 
5. Raising living standard of citizens of member counties. 
6. Settlement of trade disputes among member countries 
through consultation and dispute settlement procedures. 
7. Generating employment opportunities at global. 
8. Enlargement of production and trade. 
3.9 FUNCTIONS OF WTO