By Sudipta Bhowmik, KIIT School Of Law, Bhubaneswar.
Behind the extremely technical debate within the WTO, what is at stake above all are models of agricultural development. -Dr. Bruno Losch
“Trade can be a powerful force for growth and poverty reduction. Countries that have increased the share of trade in their GDP have grown faster and reduced poverty more rapidly”–Nicholas Stern
The establishment of World Trade Organization (WTO) is a drift towards globalization of world economy. Except agriculture, WTO advances its wing to every sector. Controversies and misconceptions are entangled with the issues of agriculture subsidy and trade facilitation, while developed countries like USA and EU have championed the cause of ‘free-trade’, on the other hand, developing countries like India have adhered to agricultural subsidies. India’s stand at Bali approved it again how agriculture subsidy is a burning issue for a developing country and it cannot be set aside as ‘evil’ at the cost of trade facilitation. Before WTO, eight trade negotiations were materialized by General Agreement on Trade and Tariffs(GATT) and in those rounds, developed countries steered the directions of trade and developing countries were ignored. But, now the developing countries are demanding for revision of the agriculture policies taken by developed countries. (more…)