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Signed The Agreement With World Trade Organisation

The basic structure of wto agreements: how the six main areas fit into the WTO framework agreement, goods, services, intellectual property, litigation and trade audits. Trade liberalization has been strongly promoted within the framework of GATT/WTO. Average industrial duty rates were 40% in 1947 and 3.8% in 2003. Tariff reductions have fostered the growth of all types of trade, particularly in vertical trade, as these are several border crossing points. Beyond industry, market access is not over: only 55% of imports arrive on the markets duty-free. A fundamental calculation problem for quantifying barriers and comparing between countries is the variance in how countries use tariff lines (a single point, as defined in a country`s tariff plan): most countries apply 5000-8000 customs lines, but Turkey, Malaysia, Brazil and Mexico use more than 10,000 lines. Four sectors – textiles and clothing; leather, rubber, footwear and travel goods; means of transport; Fish and fishery products receive special treatment and account for the highest rates of duty. THE CARIFORUM states have concluded an Economic Partnership Agreement (EPA) with Europe, a long-standing and important trading partner, to transform their trade relations into a train of reciprocity and cooperation. The World Trade Organization agreement on the trade aspects of intellectual property rights has globalized the pharmaceutical sector with great dynamism. Outsourcing production to emerging countries, where labor is cheap, labor is skilled, and environmental standards are lax, has become an attraction for pharmaceuticals.

In fact, the vast majority of drugs in the world today are manufactured in India (Bulk Drugs) and China as active pharmaceutical ingredients. Pharmaceutical pollution can cause antimicrobial resistance (AMR), which is a major problem. The ecological footprint of the pharmaceutical industry must be critically assessed in order to halt environmental sustainability. Solid, liquid or airborne waste from the pharmaceutical industry presents a serious health risk. Water pollution and risks to aquaculture have recently attracted the radar of the scientific community. There is now a huge amount of information about the negative effects of drug accumulation in the environment, which range from the virtual elimination of entire species, such as threats to vultures and birds, and males who are “feminized” by PCSP pollution and the spread of AMR. The World Trade Organization(11) is trying to reduce barriers to trade. Several steps have been taken to achieve this. Tariff barriers have been removed and, to the extent that they have been successful, non-tariff barriers have become a growing concern. .