NAMA covers industrial goods (a-2). GATTS focuses on trade in goods and services (b-3). TRIM's relates to investment liberalization (c-1). TRIP's deals with intellectual property rights and monopoly power (d-4). These are core components of the WTO framework.
132
The 1967 ASEAN declaration, which established the Association of Southeast Asian Nations, is commonly known by what name?
The ASEAN Declaration, also known as the Bangkok Declaration, was signed on August 8, 1967, in Bangkok, Thailand. It was signed by the five founding members: Indonesia, Malaysia, the Philippines, Singapore, and Thailand, with the primary objective of accelerating economic growth, social progress, and cultural development in the region.
133
Match the historical events in List-I with their respective years in List-II.
The Bretton Woods Conference occurred in 1944. The General Agreement on Tariffs and Trade (GATT) was established in 1947. The ACCRA conference (CPA) is associated with 2008, and the United Nations Conference on Trade and Development (UNCTAD) was established in 1964. The provided answer key matches these historical milestones accordingly.
134
What is the status of India regarding its membership in the International Monetary Fund (IMF)?
India was one of the original signatories to the Bretton Woods Agreement in 1944, which led to the establishment of the International Monetary Fund. Therefore, India is recognized as a founding member of the organization.
135
Which of the following historical establishment dates are correctly matched? 1. WTO (1995), 2. GATT (1948), 3. GST (2017), 4. SEBI (2000). Select the correct combination.
The World Trade Organization (WTO) was established in 1995. The General Agreement on Tariffs and Trade (GATT) was signed in 1948. The Goods and Services Tax (GST) in India was implemented in 2017. SEBI was established in 1988 and received statutory powers in 1992, making the 2000 date incorrect. Thus, 1, 2, and 3 are the correct matches.
136
On what date did the World Trade Organization (WTO) officially begin its operations?
The World Trade Organization (WTO) was established by the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade (GATT). It officially commenced its operations on January 1, 1995, following the conclusion of the Uruguay Round negotiations.
137
Which of the following international financial institutions is NOT a member of the World Bank Group?
The World Bank Group consists of five institutions: IBRD, IDA, IFC, MIGA, and ICSID. The International Monetary Fund (IMF) is a separate international organization that focuses on global monetary cooperation and financial stability, rather than development financing, and is therefore not part of the World Bank Group.
138
Evaluate the following statements: I. The WTO is the primary international body governing trade rules between nations. II. Foreign institutional investment limits in companies have been adjusted to 10% for individuals and 34% in aggregate.
The World Trade Organization (WTO) serves as the global institution managing trade agreements between member countries. The second statement reflects specific historical policy adjustments regarding Foreign Institutional Investor (FII) caps in equity markets, which were implemented to encourage foreign capital inflows into the domestic economy.
139
Which principle governs international trade concessions that are primarily multinational in nature?
The principle of reciprocity in international trade implies that countries grant trade concessions to one another in exchange for similar benefits. In the context of multinational agreements, this ensures that trade liberalization is balanced, as nations provide mutual access to their markets, fostering a cooperative environment for global trade expansion and economic integration.
140
Which of the following countries is not a member of the Association of Southeast Asian Nations (ASEAN)?
ASEAN is a regional intergovernmental organization comprising ten countries in Southeast Asia. The member states include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Japan is an East Asian nation and, while it maintains strong economic and political ties with ASEAN through the ASEAN Plus Three framework, it is not a member of the organization itself.
