Fair Trade Practices and World Trade Organization
Fair Trade is a way of doing business that ultimately aims to keep small farmers an active part of the world market place, and aims to empower consumer to make purchases that support their values.
• Raising and stabilizing the incomes of small-Scale farmers, farm workers and artisans.
• More equitably distributing the economic gains, opportunities and risks associated with the production and sale of these goods.
• Increasing the organizational and commercial capacities of producer groups.
• Promoting labor rights and the right workers to organize.
• Promoting safe and sustainable farming methods and working conditions.
Fair trade is about better prices, decent working conditions and fair terms of trade for farmers and workers.
• Creating Opportunities for Economically Disadvantaged producers.
• Transparency and Accountability .
• Fair Trading Practices and Payment of a Fair Price.
• Ensuring no child Labour and Forced Labour.
• Commitment to Non Discrimination, Gender Equity and freedom of association.
• Providing Capacity Building and Promoting Fair Building.
• Respect for the Environment.
GATT was signed by 23 countries in 1947. India was one of the founder members of GATT. The Director General of GATT, Arthur Dunkel, came up with a Drafft Final Act, known as Dunke Draft was approved and signed. GATT’s primary purpose was to increase International Trade by reducing various tariffs, quotas and subsidies while maintaining meaningful regulations.
Rounds of GATT
• First in Geneva (Switzerland) (1947)
• Second in Annecy (France) in 1949
• Third in Torquay (UK) in 1950 – 51
• Fourth, fifth, and Sixth in Geneva (Switzerland) in 1956, 1960-61, 1964 -67.
• Seventh in Tokyo (Japan) in 1973 – 79
• Eighth and final round at Punta del Este (Uruguay) in 1986 – 1994, known as ‘Uruguay Round’.
The signing of the Final Act of the Uruguay Round by member nations of GATT in April 1994 paved the way for setting up of the WTO. An agreement to this effect was signed by 104 members. The WTO Agreement came into force from January 1, 1995.
World Trade Organization(WTO):
Head Quarter: Geneva, Switzerland
Purpose: Regulation, International trade
Members of WTO: Director General, Four DeputyDirectorGeneral,andother600Official Staff from around 80 member countries.
• To set and enforce rules for international trade.
• To provide a forum for negotiating and monitoring further trade liberalization.
• To resolve trade disputes.
• Introduction at the sustainable development and environment can go together.
• To ensure that developing countries, secure a better share of growth in world Trade.
• To resolve trade disputes.
• To increase the transparency of decision making processes.
• Introduction sustainable development the development and environment can go together.
• To ensure full employment and broad increase in effective demand.
Intellectual Property Rights may be defined as “Information with a commercial Value” Under TRIPs Patent shall be available for any invention whether product or process in all fields of industrial technologies. TRIPS agreement covers seven areas of intellectual’s property rights.