CHAPTER 6

Multilateral Regulation of Trade

LEARNING OBJECTIVES

After reading this chapter, you should be able to:

  • Understand the institutional framework of the multilateral trade environment
  • Comprehend the objectives, institutional framework, and functioning of the WTO
  • Explain the need for UNCTAD as a multilateral trading institution

TRADE WARS

India and the US are at loggerheads in the trade arena and have chosen the WTO’s dispute settlement mechanism to fight out various trade related issues.

The US has complaints about India’s export-related subsidies. These are in the context of five specific schemes: export-oriented units scheme and sector-specific schemes including electronics hardware technology parks scheme, the merchandise ...

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